Fuller & Thaler Asset Management Inc. Acquires 1,831 Shares of M&T Bank Co. (NYSE:MTB)

Fuller & Thaler Asset Management Inc. raised its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,818 shares of the financial services provider's stock after acquiring an additional 1,831 shares during the period. Fuller & Thaler Asset Management Inc.'s holdings in M&T Bank were worth $6,358,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Y.D. More Investments Ltd raised its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after buying an additional 114 shares in the last quarter. Sierra Ocean LLC acquired a new position in M&T Bank in the 4th quarter valued at $44,000. Human Investing LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $44,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank during the 4th quarter worth $52,000. Finally, Principal Securities Inc. grew its holdings in shares of 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 purchasing an additional 132 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 10,751 shares of the company's stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company's stock.

M&T Bank Trading Up 0.8 %

Shares of MTB traded up $1.33 during mid-day trading on Monday, reaching $168.72. 884,425 shares of the company were exchanged, compared to its average volume of 1,119,813. The business has a 50 day simple moving average of $173.21 and a two-hundred day simple moving average of $190.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The stock has a market capitalization of $27.72 billion, a PE ratio of 11.53, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS 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 period in the prior year, the company posted $3.09 earnings per share. On average, analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.20%. M&T Bank's dividend payout ratio is currently 36.17%.

Analysts Set New Price Targets

Several research firms recently weighed in on MTB. Evercore ISI cut their price objective on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. DA Davidson cut their price target on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Piper Sandler decreased their price objective on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a research report on Thursday. Finally, Royal Bank of Canada reduced their target price on M&T Bank from $208.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $208.24.

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.