Citizens & Northern Corp Purchases New Position in M&T Bank Co. (NYSE:MTB)

Citizens & Northern Corp bought a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,784 shares of the financial services provider's stock, valued at approximately $523,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd boosted its position in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new stake in M&T Bank during the 3rd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after acquiring an additional 158 shares during the period. Y.D. More Investments Ltd grew its stake in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of M&T Bank in the third quarter worth $44,000. Institutional investors own 84.68% of the company's stock.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company's stock.

M&T Bank Trading Down 2.0 %

Shares of NYSE:MTB traded down $3.97 during midday trading on Friday, reaching $193.48. The company had a trading volume of 1,753,063 shares, compared to its average volume of 1,208,231. The company has a fifty day simple moving average of $195.09 and a two-hundred day simple moving average of $189.87. The firm has a market cap of $32.10 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the firm earned $2.74 earnings per share. Research analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

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

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank's dividend payout ratio is 36.91%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MTB. Wells Fargo & Company upped their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a report on Friday, November 15th. Evercore ISI boosted their price target on shares of M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Truist Financial reaffirmed a "buy" rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Compass Point raised their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Finally, Citigroup downgraded M&T Bank from a "buy" rating to a "neutral" rating and upped their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $221.68.

M&T Bank 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.