KBC Group NV Decreases Stock Holdings in M&T Bank Co. (NYSE:MTB)

KBC Group NV lessened its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 34.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 186,869 shares of the financial services provider's stock after selling 99,954 shares during the period. KBC Group NV owned 0.11% of M&T Bank worth $35,133,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of M&T Bank by 72.3% during the second quarter. AQR Capital Management LLC now owns 128,152 shares of the financial services provider's stock valued at $19,178,000 after purchasing an additional 53,795 shares during the period. APG Asset Management N.V. increased its stake in M&T Bank by 194.8% in the 2nd quarter. APG Asset Management N.V. now owns 18,917 shares of the financial services provider's stock valued at $2,672,000 after buying an additional 12,500 shares during the last quarter. MBB Public Markets I LLC increased its stake in M&T Bank by 63.5% in the 2nd quarter. MBB Public Markets I LLC now owns 11,129 shares of the financial services provider's stock valued at $1,684,000 after buying an additional 4,323 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of M&T Bank by 1.1% during the 2nd quarter. Mackenzie Financial Corp now owns 19,399 shares of the financial services provider's stock valued at $2,936,000 after acquiring an additional 203 shares during the period. Finally, Kathmere Capital Management LLC bought a new position in shares of M&T Bank during the 2nd quarter valued at approximately $209,000. Institutional investors own 84.68% of the company's stock.

M&T Bank Trading Down 0.6 %

Shares of MTB traded down $1.18 during trading hours on Tuesday, reaching $199.86. 1,353,478 shares of the company traded hands, compared to its average volume of 1,410,469. The company's fifty day moving average price is $200.51 and its two-hundred day moving average price is $185.97. The company has a market capitalization of $33.16 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70.

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

M&T Bank declared that its Board of Directors has authorized a share buyback 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 stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.70%. M&T Bank's payout ratio is 36.91%.

Insider Activity

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the sale, the insider now directly owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 1,590 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total transaction of $334,249.80. Following the completion of the transaction, the director now owns 2,108 shares of the company's stock, valued at approximately $443,143.76. The trade was a 43.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,487 shares of company stock valued at $8,578,809 over the last three months. Insiders own 0.82% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on MTB. Barclays raised their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Evercore ISI raised their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Compass Point increased their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Finally, Piper Sandler increased their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. 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 stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of "Hold" and an average price target of $221.68.

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.