Natixis Advisors LLC Has $33.04 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Natixis Advisors LLC reduced its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,722 shares of the financial services provider's stock after selling 20,157 shares during the period. Natixis Advisors LLC owned about 0.11% of M&T Bank worth $33,037,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MTB. Apollon Wealth Management LLC increased its stake in M&T Bank by 21.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,678 shares of the financial services provider's stock worth $477,000 after buying an additional 467 shares during the period. Metis Global Partners LLC increased its stake in M&T Bank by 4.2% during the 3rd quarter. Metis Global Partners LLC now owns 6,822 shares of the financial services provider's stock worth $1,215,000 after buying an additional 278 shares during the period. CIBC Asset Management Inc increased its stake in M&T Bank by 7.1% during the 3rd quarter. CIBC Asset Management Inc now owns 28,429 shares of the financial services provider's stock worth $5,064,000 after buying an additional 1,882 shares during the period. Empirical Finance LLC grew its holdings in M&T Bank by 2.6% during the 3rd quarter. Empirical Finance LLC now owns 5,334 shares of the financial services provider's stock worth $950,000 after acquiring an additional 137 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in M&T Bank by 9.7% during the 3rd quarter. Empowered Funds LLC now owns 2,767 shares of the financial services provider's stock worth $493,000 after acquiring an additional 245 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at M&T Bank

In other M&T Bank 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 transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

MTB has been the subject of several analyst reports. Truist Financial reiterated a "buy" rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. DA Davidson boosted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Compass Point boosted their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Finally, Piper Sandler upped their target price on shares of M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. One investment 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.com, M&T Bank presently has an average rating of "Hold" and an average price target of $222.03.

M&T Bank Stock Down 0.1 %

Shares of MTB traded down $0.13 during mid-day trading on Thursday, reaching $176.93. 1,058,197 shares of the stock traded hands, compared to its average volume of 1,019,372. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.38 and a beta of 0.74. The stock has a fifty day simple moving average of $191.47 and a 200 day simple moving average of $192.10. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data 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 net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the firm earned $2.74 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.91%.

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