1,540 Shares in M&T Bank Co. (NYSE:MTB) Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC purchased a new stake in M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,540 shares of the financial services provider's stock, valued at approximately $290,000.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in shares of M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider's stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the period. State Street Corp grew its position in M&T Bank by 6.4% during 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. boosted its stake in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider's stock worth $897,216,000 after buying an additional 190,837 shares during the period. Geode Capital Management LLC increased its holdings in shares of M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider's stock valued at $768,824,000 after purchasing an additional 66,337 shares during the period. Finally, Senvest Management LLC grew its position in M&T Bank by 12.3% in the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider's stock valued at $157,252,000 after buying an additional 96,500 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on MTB. Wells Fargo & Company boosted their target price on M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a research report on Friday, November 15th. Compass Point lifted their price target on M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Piper Sandler raised their target price on M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. Barclays upped their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Finally, Citigroup lowered M&T Bank from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $221.68.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the sale, the director now owns 35,480 shares of the company's stock, valued at $7,715,126. The trade was a 36.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business's 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 transaction, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,611 shares of company stock worth $5,354,777. Corporate insiders own 0.82% of the company's stock.

M&T Bank Trading Up 0.8 %

MTB stock traded up $1.61 on Friday, hitting $198.75. 1,197,277 shares of the company were exchanged, compared to its average volume of 1,306,269. The stock has a market capitalization of $32.98 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.42 and a beta of 0.79. The business's fifty day moving average is $195.59 and its two-hundred day moving average is $188.90. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99.

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 analysts' consensus estimates 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 EPS. As a group, research analysts forecast that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank Announces Dividend

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

M&T Bank declared that its board has approved a stock 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 reacquire up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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