M&T Bank Co. (NYSE:MTB) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 38.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,102 shares of the financial services provider's stock after acquiring an additional 122,113 shares during the period. Federated Hermes Inc. owned approximately 0.27% of M&T Bank worth $82,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in M&T Bank by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after purchasing an additional 252,583 shares during the period. Geode Capital Management LLC grew its position in M&T Bank by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after purchasing an additional 40,948 shares during the last quarter. Norges Bank purchased a new stake in M&T Bank during the 4th quarter valued at about $317,690,000. Amundi boosted its position in M&T Bank by 43.5% in the fourth quarter. Amundi now owns 807,339 shares of the financial services provider's stock valued at $154,315,000 after buying an additional 244,709 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in M&T Bank by 1.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 604,317 shares of the financial services provider's stock worth $113,618,000 after buying an additional 11,365 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

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M&T Bank Price Performance

Shares of MTB traded down $0.03 during mid-day trading on Friday, hitting $157.82. The company's stock had a trading volume of 1,548,671 shares, compared to its average volume of 1,115,242. The firm has a 50-day simple moving average of $181.27 and a 200 day simple moving average of $191.77. M&T Bank Co. has a 1-year low of $133.08 and a 1-year high of $225.70. The firm has a market capitalization of $25.93 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.38 and a beta of 0.58. 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 (NYSE:MTB - Get Free Report) last announced its quarterly earnings data 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 net margin of 19.24% and a return on equity of 10.12%. During the same period in the previous year, the business earned $2.74 earnings per share. Analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.42%. 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 declared that its Board of Directors has authorized a share 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 purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MTB shares. Truist Financial dropped their price objective on shares of M&T Bank from $236.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. DA Davidson boosted their price target on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Wells Fargo & Company dropped their price target on M&T Bank from $205.00 to $185.00 and set an "underweight" rating for the company in a research report on Friday, March 28th. Citigroup reduced their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, Evercore ISI dropped their price objective on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $215.97.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by 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.