Speece Thorson Capital Group Inc. Decreases Position in M&T Bank Co. (NYSE:MTB)

Speece Thorson Capital Group Inc. decreased its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 16.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,883 shares of the financial services provider's stock after selling 16,477 shares during the period. M&T Bank makes up 3.1% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 10th biggest position. Speece Thorson Capital Group Inc. owned 0.05% of M&T Bank worth $15,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC boosted its holdings in M&T Bank by 0.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after acquiring an additional 52 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after purchasing an additional 53 shares in the last quarter. Catalina Capital Group LLC grew its position in M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock valued at $531,000 after purchasing an additional 56 shares during the period. Parallel Advisors LLC grew its position in M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock valued at $660,000 after purchasing an additional 60 shares during the period. Finally, Forum Financial Management LP increased its stake in M&T Bank by 2.2% during the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Piper Sandler reduced their price objective on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company decreased their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Barclays decreased their price target on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, M&T Bank currently has an average rating of "Hold" and a consensus price target of $208.24.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the 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 sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company's stock.

M&T Bank Stock Performance

Shares of NYSE MTB traded up $3.94 during midday trading on Thursday, hitting $169.28. The company's stock had a trading volume of 1,022,001 shares, compared to its average volume of 1,117,828. The stock has a fifty day moving average price of $175.07 and a 200 day moving average price of $190.83. The firm has a market capitalization of $27.81 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70. The company has a current ratio of 0.98, 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 earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the company earned $3.09 EPS. On average, research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, March 3rd. M&T Bank's payout ratio is presently 36.17%.

M&T Bank announced that its Board of Directors has initiated a share buyback program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

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.