M&T Bank Co. (NYSE:MTB) Shares Purchased by Columbus Macro LLC

Columbus Macro LLC lifted its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,829 shares of the financial services provider's stock after acquiring an additional 3,889 shares during the quarter. Columbus Macro LLC's holdings in M&T Bank were worth $2,224,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of M&T Bank in the second quarter valued at $2,013,000. Park Avenue Securities LLC increased its stake in M&T Bank by 5.3% during the 3rd quarter. Park Avenue Securities LLC now owns 5,740 shares of the financial services provider's stock worth $1,022,000 after buying an additional 289 shares during the period. Quent Capital LLC lifted its holdings in M&T Bank by 75.7% during the 3rd quarter. Quent Capital LLC now owns 397 shares of the financial services provider's stock worth $71,000 after buying an additional 171 shares in the last quarter. Czech National Bank boosted its position in M&T Bank by 7.0% in the 3rd quarter. Czech National Bank now owns 34,019 shares of the financial services provider's stock valued at $6,059,000 after buying an additional 2,224 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of M&T Bank by 29.4% during the third quarter. GAMMA Investing LLC now owns 3,378 shares of the financial services provider's stock worth $602,000 after acquiring an additional 768 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Trading Up 0.0 %

NYSE:MTB traded up $0.03 during mid-day trading on Wednesday, reaching $197.94. The company's stock had a trading volume of 298,313 shares, compared to its average volume of 1,304,035. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. The stock has a market cap of $32.84 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.41 and a beta of 0.79. The company's fifty day simple moving average is $198.31 and its two-hundred day simple moving average is $187.54. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (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 period in the prior year, the business earned $2.74 earnings per share. On average, equities analysts predict that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Monday, December 2nd. M&T Bank's dividend payout ratio (DPR) is currently 36.91%.

M&T Bank announced that its board has authorized a share repurchase 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 buy up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

MTB has been the topic of several recent research reports. Compass Point upped their price target on M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Truist Financial reissued a "buy" rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Wells Fargo & Company raised their price target on M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a report on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on shares of M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, Evercore ISI raised their price objective on M&T Bank from $210.00 to $232.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, M&T Bank has an average rating of "Hold" and an average price target of $221.68.

Insider Activity at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael J. Todaro sold 4,786 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total value of $1,024,682.60. Following the sale, the executive vice president now owns 2,787 shares of the company's stock, valued at $596,696.70. This represents a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,397 shares of company stock worth $6,379,459. 0.82% of the stock is owned by insiders.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.