M&T Bank Co. (NYSE:MTB) Shares Acquired by Sapient Capital LLC

Sapient Capital LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 9,754.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 184,287 shares of the financial services provider's stock after buying an additional 182,417 shares during the quarter. Sapient Capital LLC owned approximately 0.11% of M&T Bank worth $34,648,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MTB. Plato Investment Management Ltd lifted its stake in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in M&T Bank in the 3rd quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in M&T Bank in the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MTB shares. DA Davidson upped their target price on shares of M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Royal Bank of Canada upped their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, October 18th. Piper Sandler upped their target price 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. Finally, Wells Fargo & Company upped their target price on shares of M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a research note on Friday, November 15th. 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. Based on data from MarketBeat, M&T Bank currently has an average rating of "Hold" and an average target price of $221.68.

M&T Bank Stock Performance

Shares of NYSE MTB traded up $1.61 during midday trading on Friday, reaching $198.75. The company had a trading volume of 1,197,277 shares, compared to its average volume of 1,211,109. The business's 50-day simple moving average is $195.84 and its 200 day simple moving average is $188.61. The stock has a market cap of $32.98 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results 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 previous year, the company earned $2.74 earnings per share. On average, analysts forecast that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.72%. M&T Bank's payout ratio is currently 36.91%.

M&T Bank announced that its board has approved a stock buyback plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 20,000 shares of the stock in a transaction 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 sale, the director now owns 35,480 shares in the company, valued at $7,715,126. This represents a 36.05 % 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. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,611 shares of company stock worth $5,354,777 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

About M&T Bank

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.