Vanguard Group Inc. Acquires 42,377 Shares of M&T Bank Co. (NYSE:MTB)

Vanguard Group Inc. increased its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,496,793 shares of the financial services provider's stock after purchasing an additional 42,377 shares during the quarter. Vanguard Group Inc. owned approximately 11.75% of M&T Bank worth $3,665,592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MTB. Sanctuary Advisors LLC lifted its holdings in M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after buying an additional 52 shares during the period. Catalina Capital Group LLC lifted its stake in shares of M&T Bank by 2.0% in the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock worth $531,000 after acquiring an additional 56 shares during the period. Parallel Advisors LLC boosted its holdings in M&T Bank by 1.7% in the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock valued at $660,000 after acquiring an additional 60 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in M&T Bank by 1.2% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider's stock valued at $975,000 after purchasing an additional 63 shares during the period. Finally, Meridian Wealth Management LLC increased its position in M&T Bank by 3.8% during the 4th quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider's stock valued at $336,000 after purchasing an additional 66 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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M&T Bank Stock Down 2.5 %

NYSE MTB traded down $4.46 during mid-day trading on Friday, hitting $175.21. The company's stock had a trading volume of 1,084,938 shares, compared to its average volume of 1,089,406. The firm has a market capitalization of $28.78 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.38 and a beta of 0.74. The company's 50 day simple moving average is $189.44 and its 200 day simple moving average is $192.44. 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 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 issued its quarterly earnings data 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 quarter in the previous year, the company earned $2.74 earnings per share. Analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.91%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MTB shares. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Compass Point boosted their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Truist Financial reissued a "buy" rating and issued a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. JPMorgan Chase & Co. restated a "neutral" rating and set a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Finally, Barclays raised their target price on M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $218.79.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction 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 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company's stock.

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.