Vest Financial LLC raised its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,091 shares of the financial services provider's stock after acquiring an additional 22,637 shares during the quarter. Vest Financial LLC owned about 0.10% of M&T Bank worth $32,543,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTB. Hedeker Wealth LLC increased its holdings in M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider's stock worth $627,000 after buying an additional 55 shares during the last quarter. Catalina Capital Group LLC increased 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 valued at $531,000 after buying an additional 56 shares during the period. Frank Rimerman Advisors LLC raised its holdings in M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider's stock valued at $1,005,000 after buying an additional 57 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider's stock valued at $553,000 after buying an additional 57 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.
Insider Transactions at M&T Bank
In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Barnes sold 20,000 shares of the company's 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 sale, the director now directly owns 35,480 shares of the company's stock, valued at approximately $7,715,126. This represents a 36.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,611 shares of company stock worth $5,354,777 over the last ninety days. Company insiders own 0.82% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on MTB shares. Bank of America lifted their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Truist Financial reissued a "buy" rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research note on Friday, November 15th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Finally, Compass Point boosted their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, M&T Bank currently has a consensus rating of "Hold" and a consensus target price of $221.68.
Read Our Latest Stock Analysis on MTB
M&T Bank Stock Performance
Shares of MTB traded down $1.60 during mid-day trading on Wednesday, reaching $197.61. The company had a trading volume of 700,720 shares, compared to its average volume of 1,226,154. The stock has a market capitalization of $32.79 billion, a P/E ratio of 13.51, a PEG ratio of 1.42 and a beta of 0.79. The stock has a 50 day moving average of $196.43 and a two-hundred day moving average of $188.49. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52-week low of $130.84 and a 52-week high of $225.70.
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 EPS for the quarter, beating 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 previous year, the firm earned $2.74 earnings per share. On average, analysts expect that M&T Bank Co. will post 16.56 earnings per share for the current year.
M&T Bank declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.
M&T Bank Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 annualized dividend and a dividend yield of 2.73%. M&T Bank's dividend payout ratio is currently 36.91%.
About M&T Bank
(
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.
Further Reading
Before you consider M&T Bank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and M&T Bank wasn't on the list.
While M&T Bank currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
