Barclays PLC Has $78.29 Million Stake in M&T Bank Co. (NYSE:MTB)

Barclays PLC lowered its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 28.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 416,405 shares of the financial services provider's stock after selling 161,861 shares during the quarter. Barclays PLC owned approximately 0.25% of M&T Bank worth $78,290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. FMR LLC boosted its position in shares of M&T Bank by 14.3% in the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after purchasing an additional 1,761,014 shares during the last quarter. Norges Bank acquired a new stake in shares of M&T Bank in the 4th quarter valued at approximately $317,690,000. Charles Schwab Investment Management Inc. boosted its stake in M&T Bank by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after acquiring an additional 252,583 shares during the last quarter. Amundi grew its holdings in M&T Bank by 43.5% during the fourth quarter. Amundi now owns 807,339 shares of the financial services provider's stock valued at $154,315,000 after purchasing an additional 244,709 shares during the period. Finally, LGT Capital Partners LTD. bought a new stake in M&T Bank in the fourth quarter valued at approximately $34,803,000. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MTB. Evercore ISI decreased their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Piper Sandler cut their price target on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley reduced their target price on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Robert W. Baird decreased their price objective on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $208.14.

M&T Bank Price Performance

M&T Bank stock traded up $3.08 during mid-day trading on Tuesday, reaching $159.85. 150,608 shares of the company were exchanged, compared to its average volume of 1,418,269. The firm has a market cap of $26.26 billion, a PE ratio of 10.94, a PEG ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The company has a fifty day simple moving average of $176.44 and a 200-day simple moving average of $191.21. M&T Bank Co. has a 12 month low of $139.78 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business posted $3.09 EPS. As a group, equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.38%. The ex-dividend date was Monday, March 3rd. M&T Bank's payout ratio is presently 36.17%.

M&T Bank declared that its board has initiated a share buyback program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company's stock.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.