National Bank of Canada FI Decreases Stock Holdings in M&T Bank Co. (NYSE:MTB)

National Bank of Canada FI lowered its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,596 shares of the financial services provider's stock after selling 25,770 shares during the quarter. National Bank of Canada FI owned approximately 0.06% of M&T Bank worth $17,598,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MTB. Sanctuary Advisors LLC increased its holdings in shares of M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock valued at $3,195,000 after acquiring an additional 52 shares in the last quarter. Catalina Capital Group LLC raised its holdings in M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock worth $531,000 after purchasing an additional 56 shares during the period. Parallel Advisors LLC raised its stake in shares of M&T Bank by 1.7% during the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after buying an additional 60 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in M&T Bank by 1.2% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider's stock valued at $975,000 after purchasing an additional 63 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its stake in M&T Bank by 3.8% in the 4th quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider's stock valued at $336,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

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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 transaction, the executive vice president now owns 10,751 shares in the company, valued at $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 available at the SEC website. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Performance

Shares of MTB traded up $11.54 during midday trading on Wednesday, reaching $168.12. 1,751,788 shares of the stock were exchanged, compared to its average volume of 1,110,899. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The company has a market capitalization of $27.62 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.38 and a beta of 0.58. The business's 50-day moving average price is $182.84 and its 200 day moving average price is $191.99.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business earned $2.74 EPS. On average, sell-side analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently declared 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. This represents a $5.40 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.91%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTB. Barclays lifted their price objective on M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. DA Davidson lifted their target price on shares of M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Compass Point upped their price target on M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Truist Financial dropped their price objective on M&T Bank from $236.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Finally, Wells Fargo & Company decreased their target price on M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a research note on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $215.97.

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.