Orion Portfolio Solutions LLC Sells 14,436 Shares of M&T Bank Co. (NYSE:MTB)

Orion Portfolio Solutions LLC lessened its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 37.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,334 shares of the financial services provider's stock after selling 14,436 shares during the quarter. Orion Portfolio Solutions LLC's holdings in M&T Bank were worth $4,575,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in MTB. Y.D. More Investments Ltd grew its holdings in shares of M&T Bank by 122.6% during 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 bought a new stake in M&T Bank in the 4th quarter valued at about $44,000. Sierra Ocean LLC bought a new stake in M&T Bank during the 4th quarter valued at $44,000. Loomis Sayles & Co. L P acquired a new position in M&T Bank during the 4th quarter valued at about $52,000. Finally, Principal Securities Inc. raised its holdings in M&T Bank by 47.5% during the fourth 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. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial reaffirmed a "buy" rating and set a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. cut 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. Barclays boosted their target price on M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on shares of M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $216.62.

M&T Bank Price Performance

Shares of NYSE MTB traded down $13.58 during midday trading on Thursday, reaching $166.13. The company's stock had a trading volume of 982,198 shares, compared to its average volume of 1,091,155. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The company has a market cap of $27.29 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.38 and a beta of 0.58. The business's 50 day moving average price is $188.33 and its two-hundred day moving average price is $192.86.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the business posted $2.74 earnings per share. On average, analysts forecast 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 approved a share buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.25%. 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.