Robeco Institutional Asset Management B.V. Buys 2,872 Shares of M&T Bank Co. (NYSE:MTB)

Robeco Institutional Asset Management B.V. boosted its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 25.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,213 shares of the financial services provider's stock after purchasing an additional 2,872 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in M&T Bank were worth $2,672,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Hedeker Wealth LLC raised its position in shares of M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider's stock valued at $627,000 after buying an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC increased its stake in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider's stock valued at $1,005,000 after acquiring an additional 57 shares during the last quarter. Crestwood Advisors Group LLC raised its position in M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider's stock valued at $553,000 after purchasing an additional 57 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 68 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its holdings in shares of M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider's stock worth $386,000 after acquiring an additional 69 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction 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 represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael J. Todaro sold 4,786 shares of M&T Bank stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the completion of the transaction, the executive vice president now directly owns 2,787 shares in the company, valued at approximately $596,696.70. The trade was a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,397 shares of company stock valued at $6,379,459 in the last quarter. Insiders own 0.82% of the company's stock.

M&T Bank Stock Performance

NYSE:MTB traded up $0.76 during trading hours on Wednesday, reaching $198.67. The stock had a trading volume of 794,554 shares, compared to its average volume of 1,326,668. The stock has a market cap of $32.96 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79. The stock has a 50 day simple moving average of $198.31 and a 200 day simple moving average of $187.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping analysts' consensus estimates 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 period last year, the company earned $2.74 earnings per share. On average, research analysts forecast that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has authorized a share repurchase plan 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 reacquire up to 12.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.72%. M&T Bank's payout ratio is presently 36.91%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial reissued a "buy" rating and set a $236.00 target price (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. The Goldman Sachs Group increased their price objective on M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday. Royal Bank of Canada increased their price target on M&T Bank from $190.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, October 18th. Finally, Bank of America lifted their price objective on M&T Bank from $188.00 to $218.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, M&T Bank presently has a consensus rating of "Hold" and a consensus price target of $221.68.

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.