Marshall Wace LLP Sells 364,025 Shares of M&T Bank Co. (NYSE:MTB)

Marshall Wace LLP lowered its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 37.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 618,138 shares of the financial services provider's stock after selling 364,025 shares during the quarter. Marshall Wace LLP owned 0.37% of M&T Bank worth $116,216,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MTB. Sanctuary Advisors LLC raised its holdings in shares of M&T Bank by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after purchasing an additional 52 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of M&T Bank by 5.8% in the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock valued at $183,000 after buying an additional 53 shares in the last quarter. Catalina Capital Group LLC lifted its position in shares of M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock valued at $531,000 after acquiring an additional 56 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after acquiring an additional 60 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in shares of M&T Bank by 1.2% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider's stock worth $975,000 after acquiring an additional 63 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Up 2.1 %

NYSE MTB traded up $3.34 during trading on Tuesday, hitting $160.11. 309,559 shares of the company traded hands, compared to its average volume of 1,111,003. The business has a fifty day simple moving average of $176.44 and a 200 day simple moving average of $191.21. The company has a current ratio of 0.98, a quick ratio of 0.99 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 company has a market capitalization of $26.30 billion, a P/E ratio of 10.95, a PEG 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 earnings per share 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 firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm posted $3.09 earnings per share. As a group, sell-side analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Monday, March 3rd. 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 the business's 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 transaction, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler dropped their target price on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. DA Davidson cut their target price on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Barclays decreased their target price on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 15th. Truist Financial dropped their price target on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased 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, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $208.14.

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.