Clearbridge Investments LLC Boosts Stake in M&T Bank Co. (NYSE:MTB)

Clearbridge Investments LLC grew its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,577 shares of the financial services provider's stock after purchasing an additional 17,376 shares during the period. Clearbridge Investments LLC owned approximately 0.26% of M&T Bank worth $82,457,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MTB. Y.D. More Investments Ltd lifted its position in M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 114 shares during the last quarter. Human Investing LLC bought a new stake in shares of M&T Bank during the 4th quarter worth $44,000. Sierra Ocean LLC bought a new stake in shares of M&T Bank during the 4th quarter worth $44,000. Loomis Sayles & Co. L P bought a new position in M&T Bank in the fourth quarter valued at $52,000. Finally, Principal Securities Inc. increased its position in shares of M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company's stock.

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M&T Bank Trading Down 3.8 %

Shares of NYSE MTB traded down $6.23 during midday trading on Friday, hitting $157.13. 2,483,308 shares of the company traded hands, compared to its average volume of 1,101,964. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The stock has a 50-day moving average price of $186.82 and a 200 day moving average price of $192.67. The firm has a market cap of $25.82 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the company posted $2.74 earnings per share. As a group, analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

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

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is presently 36.91%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial reduced their price target on shares of M&T Bank from $236.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday. Evercore ISI reduced their target price on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Morgan Stanley lowered their price target on shares of 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. Barclays upped their price target on shares of M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Finally, Citigroup decreased their price objective on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. One equities 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.com, M&T Bank has a consensus rating of "Hold" and a consensus target price of $215.97.

About M&T Bank

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.