M&T Bank Co. (NYSE:MTB) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,769 shares of the financial services provider's stock after selling 4,869 shares during the period. Corient Private Wealth LLC's holdings in M&T Bank were worth $3,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd boosted its position in shares of M&T Bank by 122.6% during the 4th 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 during the period. Human Investing LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $44,000. Sierra Ocean LLC acquired a new stake in shares of M&T Bank in the 4th quarter valued at about $44,000. Principal Securities Inc. raised its holdings in shares of M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock valued at $77,000 after buying an additional 132 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in M&T Bank in the 3rd quarter valued at $91,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company's stock.

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M&T Bank Stock Down 0.5 %

NYSE:MTB traded down $0.89 during mid-day trading on Wednesday, reaching $182.10. The company's stock had a trading volume of 787,379 shares, compared to its average volume of 1,047,629. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $29.92 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The stock has a fifty day moving average of $190.58 and a 200-day moving average of $192.56.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results 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 in the previous year, the business earned $2.74 earnings per share. Equities research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

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

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Monday, March 3rd. M&T Bank's payout ratio is 36.91%.

Analysts Set New Price Targets

MTB has been the subject of several research analyst reports. Piper Sandler increased their price objective on M&T Bank from $205.00 to $243.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. The Goldman Sachs Group raised their target price on shares of M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Compass Point boosted their price objective on M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Evercore ISI decreased their price objective on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods upped their target price on M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, M&T Bank has a consensus rating of "Hold" and a consensus target price of $219.97.

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.