Mizuho Securities USA LLC Has $2.96 Million Position in M&T Bank Co. (NYSE:MTB)

Mizuho Securities USA LLC increased its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 45.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,726 shares of the financial services provider's stock after buying an additional 4,897 shares during the period. Mizuho Securities USA LLC's holdings in M&T Bank were worth $2,957,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MTB. Y.D. More Investments Ltd boosted its holdings in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after acquiring an additional 114 shares during the period. Human Investing LLC bought a new stake in M&T Bank in the 4th quarter valued at $44,000. Sierra Ocean LLC acquired a new position in M&T Bank in the 4th quarter valued at $44,000. Principal Securities Inc. increased its position in M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after buying an additional 132 shares during the period. Finally, Kentucky Trust Co acquired a new stake in shares of M&T Bank during the fourth quarter worth $92,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company'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 sale, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on MTB. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. DA Davidson increased their target price on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. Piper Sandler boosted their price target on M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. Finally, Barclays increased 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 research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of "Hold" and a consensus price target of $219.97.

M&T Bank Trading Down 1.4 %

Shares of MTB stock traded down $2.56 during trading hours on Thursday, hitting $179.64. 709,294 shares of the company's stock traded hands, compared to its average volume of 1,047,364. The stock has a market cap of $29.51 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The stock's 50 day simple moving average is $190.20 and its 200 day simple moving average is $192.48. 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 12 month low of $133.03 and a 12 month high of $225.70.

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 (EPS) for the quarter, topping 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 quarter last year, the company posted $2.74 earnings per share. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Monday, March 3rd. M&T Bank's dividend payout ratio is presently 36.91%.

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