M&T Bank Co. (NYSE:MTB) Shares Bought by Curi RMB Capital LLC

Curi RMB Capital LLC boosted its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 43.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 66,480 shares of the financial services provider's stock after purchasing an additional 20,076 shares during the period. Curi RMB Capital LLC's holdings in M&T Bank were worth $12,499,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC increased its position in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after purchasing an additional 1,761,014 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in M&T Bank by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock valued at $994,522,000 after acquiring an additional 252,583 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 in the last quarter. Norges Bank acquired a new position in shares of M&T Bank during the 4th quarter worth $317,690,000. Finally, First Trust Advisors LP lifted its stake in shares of M&T Bank by 2.1% in the fourth quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock valued at $301,892,000 after purchasing an additional 33,017 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTB. Piper Sandler dropped their target price on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Barclays reduced their target price on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company cut their price target on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada lowered their price target on shares of M&T Bank from $208.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Truist Financial lowered their price objective on M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $208.24.

Insider Activity

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

M&T Bank Stock Up 2.4 %

NYSE:MTB traded up $3.94 during mid-day trading on Thursday, reaching $169.28. The stock had a trading volume of 1,021,991 shares, compared to its average volume of 1,427,465. The stock's 50 day simple moving average is $175.07 and its two-hundred day simple moving average is $190.83. M&T Bank Co. has a 1-year low of $139.78 and a 1-year high of $225.70. The company has a market capitalization of $27.81 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results 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 net margin of 19.24% and a return on equity of 10.12%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $3.09 earnings per share. Equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.19%. M&T Bank's payout ratio is currently 36.17%.

M&T Bank announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

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.