Northwest & Ethical Investments L.P. Boosts Position in M&T Bank Co. (NYSE:MTB)

Northwest & Ethical Investments L.P. grew its stake 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 SEC. The institutional investor owned 59,006 shares of the financial services provider's stock after buying an additional 5,533 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in M&T Bank were worth $11,093,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd lifted its position in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 114 shares during the last quarter. Human Investing LLC purchased a new position in shares of M&T Bank in the 4th quarter valued at approximately $44,000. Sierra Ocean LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $44,000. Principal Securities Inc. boosted its position in shares of M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after purchasing an additional 132 shares in the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of M&T Bank in the fourth quarter worth $92,000. Institutional investors own 84.68% of the company's stock.

M&T Bank Stock Up 2.4 %

MTB stock traded up $4.25 during trading on Monday, reaching $182.50. 924,234 shares of the company traded hands, compared to its average volume of 1,049,412. The business has a 50 day simple moving average of $190.82 and a 200 day simple moving average of $192.44. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.

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M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (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 company posted $2.74 EPS. On average, equities research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. M&T Bank's payout ratio is 36.91%.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MTB shares. Morgan Stanley dropped their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Piper Sandler raised their price objective on M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. DA Davidson increased their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Barclays boosted their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $219.97.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were 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 approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company's stock.

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.