CreativeOne Wealth LLC Buys Shares of 2,115 M&T Bank Co. (NYSE:MTB)

CreativeOne Wealth LLC acquired a new stake in M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,115 shares of the financial services provider's stock, valued at approximately $398,000.

A number of other institutional investors have also recently made changes to their positions in the business. Y.D. More Investments Ltd raised 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 acquiring an additional 114 shares in the last quarter. Human Investing LLC acquired a new position in shares of M&T Bank in the 4th quarter valued at $44,000. Sierra Ocean LLC purchased a new position in shares of M&T Bank during the fourth quarter worth about $44,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank during the fourth quarter worth about $52,000. Finally, Principal Securities Inc. raised its stake in 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 acquiring an additional 132 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Trading Up 2.4 %

Shares of MTB stock traded up $3.94 during mid-day trading on Thursday, reaching $169.28. The company's stock had a trading volume of 786,081 shares, compared to its average volume of 1,117,828. The company's 50 day simple moving average is $175.07 and its 200-day simple moving average is $190.83. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12-month low of $139.78 and a 12-month high of $225.70. The firm has a market capitalization of $27.81 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $3.09 EPS. On average, research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has initiated a share buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.19%. M&T Bank's dividend payout ratio is currently 36.17%.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

MTB has been the topic of a number of analyst reports. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Citigroup cut their price target on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. 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 report on Thursday, March 13th. Finally, Evercore ISI cut their price target 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, M&T Bank presently has an average rating of "Hold" and an average target price of $208.24.

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.