Proficio Capital Partners LLC Takes $20.79 Million Position in M&T Bank Co. (NYSE:MTB)

Proficio Capital Partners LLC bought a new stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 110,584 shares of the financial services provider's stock, valued at approximately $20,791,000. Proficio Capital Partners LLC owned 0.07% of M&T Bank at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MTB. FMR LLC increased its stake in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider's stock valued at $2,199,675,000 after buying an additional 1,508,846 shares during the period. State Street Corp grew its stake in shares of M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock worth $1,562,725,000 after purchasing an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of M&T Bank by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after purchasing an additional 252,583 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of M&T Bank in the 3rd quarter worth approximately $44,422,000. Finally, Sapient Capital LLC grew its stake in shares of M&T Bank by 9,754.9% in the 4th quarter. Sapient Capital LLC now owns 184,287 shares of the financial services provider's stock worth $34,648,000 after purchasing an additional 182,417 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

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Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MTB shares. Compass Point lifted their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Piper Sandler lifted their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Morgan Stanley lowered their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Citigroup cut shares of M&T Bank from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. One 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. Based on data from MarketBeat, M&T Bank has an average rating of "Hold" and an average target price of $222.03.

M&T Bank Stock Down 0.3 %

Shares of MTB stock traded down $0.60 during trading on Tuesday, hitting $174.82. 1,288,770 shares of the company were exchanged, compared to its average volume of 1,018,891. 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 firm has a market capitalization of $28.72 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.38 and a beta of 0.74. The business's 50-day simple moving average is $192.09 and its 200 day simple moving average is $192.19. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating 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 previous year, the firm earned $2.74 earnings per share. As a group, analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has initiated a share buyback 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 purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is presently 36.91%.

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