Natixis Has $2.41 Million Position in M&T Bank Co. (NYSE:MTB)

Natixis lowered its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 62.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,816 shares of the financial services provider's stock after selling 21,341 shares during the period. Natixis' holdings in M&T Bank were worth $2,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. Sanctuary Advisors LLC grew its stake in M&T Bank by 0.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock valued at $3,195,000 after purchasing an additional 52 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of M&T Bank by 5.8% in the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock valued at $183,000 after buying an additional 53 shares in the last quarter. Catalina Capital Group LLC raised its position in M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock worth $531,000 after acquiring an additional 56 shares in the last quarter. Parallel Advisors LLC lifted its stake in M&T Bank by 1.7% in the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock valued at $660,000 after acquiring an additional 60 shares during the last quarter. Finally, Forum Financial Management LP grew its position in shares of M&T Bank by 2.2% in the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Price Performance

Shares of MTB stock traded down $1.72 during trading hours on Friday, reaching $167.44. The company's stock had a trading volume of 829,177 shares, compared to its average volume of 1,118,113. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The firm's 50 day simple moving average is $174.48 and its 200-day simple moving average is $190.77. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $27.51 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (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 business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $3.09 EPS. Sell-side analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

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

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.23%. M&T Bank's payout ratio is presently 36.17%.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company'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 transaction, the executive vice president now owns 10,751 shares of the company's stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MTB. JPMorgan Chase & Co. dropped their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Truist Financial reduced their price objective on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley cut their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company cut their price objective on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $208.24.

M&T Bank Company 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.