M&T Bank Co. (NYSE:MTB) Holdings Trimmed by Morningstar Investment Management LLC

Morningstar Investment Management LLC lessened its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 80.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,035 shares of the financial services provider's stock after selling 8,457 shares during the period. Morningstar Investment Management LLC's holdings in M&T Bank were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. Hussman Strategic Advisors Inc. acquired a new position in shares of M&T Bank during the fourth quarter worth about $1,184,000. Meitav Investment House Ltd. lifted its position in M&T Bank by 35.9% during the 4th quarter. Meitav Investment House Ltd. now owns 3,085 shares of the financial services provider's stock worth $580,000 after acquiring an additional 815 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in M&T Bank by 17.8% in the 4th quarter. Handelsbanken Fonder AB now owns 37,164 shares of the financial services provider's stock worth $6,987,000 after acquiring an additional 5,626 shares during the period. Ieq Capital LLC grew its position in M&T Bank by 15.0% in the fourth quarter. Ieq Capital LLC now owns 11,136 shares of the financial services provider's stock valued at $2,094,000 after acquiring an additional 1,453 shares in the last quarter. Finally, Good Life Advisors LLC purchased a new stake in shares of M&T Bank during the fourth quarter valued at approximately $227,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

MTB has been the subject of several analyst reports. Compass Point upped their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. DA Davidson increased their price target on M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Keefe, Bruyette & Woods raised their price objective on M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler increased their target price 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, JPMorgan Chase & Co. restated a "neutral" rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $221.68.

M&T Bank Stock Performance

MTB stock traded down $3.97 during midday trading on Friday, reaching $193.48. The company had a trading volume of 1,753,063 shares, compared to its average volume of 1,208,231. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $195.20 and a 200 day moving average price of $189.64. The firm has a market capitalization of $32.10 billion, a PE ratio of 13.23, a P/E/G ratio of 1.40 and a beta of 0.79. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $2.74 earnings per share. Analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date is Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.91%.

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

Insider Buying and Selling at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.