3,352 Shares in M&T Bank Co. (NYSE:MTB) Bought by Virtu Financial LLC

Virtu Financial LLC purchased a new stake in M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,352 shares of the financial services provider's stock, valued at approximately $630,000.

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

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Wall Street Analyst Weigh In

A number of brokerages recently commented on MTB. Truist Financial reiterated a "buy" rating and issued a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Citigroup dropped their price objective on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a report on Monday. Morgan Stanley reduced their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Barclays lifted their price objective on M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, M&T Bank presently has an average rating of "Hold" and an average target price of $218.79.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's 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 completion of the transaction, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.

M&T Bank Trading Down 2.5 %

Shares of MTB stock traded down $4.46 on Friday, hitting $175.21. 1,084,938 shares of the stock traded hands, compared to its average volume of 1,089,406. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The firm's 50-day moving average price is $189.87 and its two-hundred day moving average price is $192.40. The stock has a market capitalization of $28.78 billion, a PE ratio of 11.98, a PEG ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business earned $2.74 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is 36.91%.

M&T Bank announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.