Robinson Value Management Ltd. cut its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,103 shares of the financial services provider's stock after selling 1,345 shares during the period. M&T Bank comprises approximately 3.1% of Robinson Value Management Ltd.'s portfolio, making the stock its 3rd biggest holding. Robinson Value Management Ltd.'s holdings in M&T Bank were worth $4,720,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Visionary Horizons LLC increased its holdings in shares of M&T Bank by 6.8% in the fourth quarter. Visionary Horizons LLC now owns 3,774 shares of the financial services provider's stock worth $710,000 after purchasing an additional 241 shares during the period. Entropy Technologies LP bought a new stake in shares of M&T Bank during the 4th quarter worth $1,499,000. Empowered Funds LLC grew its position in shares of M&T Bank by 9.6% in the 4th quarter. Empowered Funds LLC now owns 3,034 shares of the financial services provider's stock worth $570,000 after buying an additional 267 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of M&T Bank by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,860 shares of the financial services provider's stock valued at $350,000 after acquiring an additional 75 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in M&T Bank by 8.4% in the fourth quarter. Apollon Wealth Management LLC now owns 2,903 shares of the financial services provider's stock worth $546,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.
M&T Bank Stock Down 0.8 %
MTB traded down $1.60 during trading on Wednesday, hitting $197.61. 700,720 shares of the company's stock traded hands, compared to its average volume of 1,226,154. M&T Bank Co. has a 12-month low of $130.84 and a 12-month high of $225.70. The company's 50 day simple moving average is $196.43 and its two-hundred day simple moving average is $188.49. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $32.79 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.42 and a beta of 0.79.
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 the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business posted $2.74 earnings per share. Analysts predict that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.
M&T Bank Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. M&T Bank's dividend payout ratio (DPR) is 36.91%.
M&T Bank announced that its board has initiated a stock buyback plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
MTB has been the subject of several research reports. Bank of America upped their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the stock a "buy" rating in a report on Friday, October 18th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Citigroup lowered M&T Bank from a "buy" rating to a "neutral" rating and increased their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, Truist Financial reiterated a "buy" rating and issued a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $221.68.
Read Our Latest Stock Report on M&T Bank
Insider Buying and Selling
In other news, Director John P. Barnes sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total value of $4,349,000.00. Following the transaction, the director now owns 35,480 shares in the company, valued at $7,715,126. This represents a 36.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares of the company's stock, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,611 shares of company stock worth $5,354,777. 0.82% of the stock is owned by insiders.
M&T Bank Company Profile
(
Free Report)
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.
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