GWN Securities Inc. Invests $773,000 in M&T Bank Co. (NYSE:MTB)

GWN Securities Inc. purchased a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,886 shares of the financial services provider's stock, valued at approximately $773,000.

A number of other hedge funds also recently bought and sold shares of the business. Apollon Wealth Management LLC lifted its position in shares of M&T Bank by 21.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,678 shares of the financial services provider's stock valued at $477,000 after buying an additional 467 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in M&T Bank by 5.8% during the third quarter. Aptus Capital Advisors LLC now owns 2,072 shares of the financial services provider's stock valued at $369,000 after purchasing an additional 114 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Metis Global Partners LLC raised its position in shares of M&T Bank by 4.2% during the 3rd quarter. Metis Global Partners LLC now owns 6,822 shares of the financial services provider's stock worth $1,215,000 after purchasing an additional 278 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in M&T Bank by 7.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,279 shares of the financial services provider's stock valued at $762,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

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M&T Bank Stock Performance

MTB stock traded down $0.13 on Thursday, hitting $176.93. The company's stock had a trading volume of 1,058,197 shares, compared to its average volume of 1,019,372. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market cap of $29.07 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The firm has a 50 day moving average of $191.47 and a two-hundred day moving average of $192.10.

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 for the quarter, topping the consensus estimate 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 prior year, the business earned $2.74 earnings per share. Equities analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has approved a stock repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank's payout ratio is currently 36.91%.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were 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 in the company, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MTB. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Piper Sandler raised their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Citigroup lowered M&T Bank from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Morgan Stanley lowered their price target 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, StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $222.03.

M&T Bank 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.