LPL Financial LLC Has $21.45 Million Stock Position in M&T Bank Co. (NYSE:MTB)

LPL Financial LLC increased its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,066 shares of the financial services provider's stock after acquiring an additional 4,163 shares during the quarter. LPL Financial LLC owned about 0.07% of M&T Bank worth $21,446,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MTB. Hennion & Walsh Asset Management Inc. raised its holdings in M&T Bank by 34.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider's stock worth $1,473,000 after buying an additional 2,018 shares during the period. Flagship Harbor Advisors LLC raised its holdings in shares of M&T Bank by 89.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock worth $515,000 after acquiring an additional 1,295 shares during the period. US Bancorp DE lifted its position in M&T Bank by 24.3% in the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock valued at $1,576,000 after acquiring an additional 1,639 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in M&T Bank in the 4th quarter worth $290,000. Finally, Valeo Financial Advisors LLC bought a new position in M&T Bank during the 4th quarter worth about $297,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Performance

Shares of MTB traded down $13.20 during trading hours on Thursday, hitting $166.51. The company had a trading volume of 767,633 shares, compared to its average volume of 1,089,800. The firm has a market cap of $27.36 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.38 and a beta of 0.58. 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 business has a fifty day moving average of $188.33 and a 200-day moving average of $192.86. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70.

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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 the consensus estimate 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 business earned $2.74 EPS. Equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.91%.

M&T Bank announced that its board has authorized a share 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 purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MTB shares. JPMorgan Chase & Co. reduced their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research report on Thursday. Citigroup decreased 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 research note on Monday, March 24th. DA Davidson boosted their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, Truist Financial restated a "buy" rating and set a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, M&T Bank has an average rating of "Hold" and a consensus price target of $216.62.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank 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. The trade was a 13.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.