Fmr LLC Has $2.65 Billion Holdings in M&T Bank Co. (NYSE:MTB)

FMR LLC raised its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,110,412 shares of the financial services provider's stock after purchasing an additional 1,761,014 shares during the period. FMR LLC owned 8.50% of M&T Bank worth $2,652,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of M&T Bank by 38.3% during the fourth quarter. Federated Hermes Inc. now owns 441,102 shares of the financial services provider's stock worth $82,932,000 after buying an additional 122,113 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in M&T Bank during the 4th quarter valued at $1,370,000. Quadrant Capital Group LLC boosted its position in M&T Bank by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after acquiring an additional 53 shares during the period. Russell Investments Group Ltd. raised its stake in shares of M&T Bank by 1.0% during the fourth quarter. Russell Investments Group Ltd. now owns 73,383 shares of the financial services provider's stock valued at $13,803,000 after purchasing an additional 717 shares in the last quarter. Finally, Aviva PLC lifted its holdings in M&T Bank by 43.5% in the fourth quarter. Aviva PLC now owns 45,388 shares of the financial services provider's stock worth $8,533,000 after purchasing an additional 13,768 shares during the period. Institutional investors own 84.68% of the company's stock.

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Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company's stock.

M&T Bank Stock Down 0.1 %

Shares of NYSE:MTB traded down $0.15 during trading on Friday, reaching $157.70. 482,205 shares of the company traded hands, compared to its average volume of 1,110,659. The firm has a fifty day simple moving average of $182.07 and a 200 day simple moving average of $191.87. 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 1-year low of $133.03 and a 1-year high of $225.70. The firm has a market cap of $25.91 billion, a P/E ratio of 10.71, 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 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 return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the company earned $2.74 EPS. Analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is presently 36.91%.

Wall Street Analyst Weigh In

A number of analysts have commented on MTB shares. Barclays boosted their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a research report on Friday, March 28th. Evercore ISI cut their price objective on 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, Morgan Stanley dropped their price target on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $215.97.

M&T Bank Company 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.