Kingsview Wealth Management LLC Buys 75 Shares of M&T Bank Co. (NYSE:MTB)

Kingsview Wealth Management LLC boosted its stake in shares of M&T Bank Co. (NYSE:MTB) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,860 shares of the financial services provider’s stock after acquiring an additional 75 shares during the period. Kingsview Wealth Management LLC’s holdings in M&T Bank were worth $350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd increased its position in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new stake in M&T Bank during the third quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares during the period. Y.D. More Investments Ltd raised its position in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of M&T Bank during the 3rd quarter worth approximately $44,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTB has been the topic of a number of recent analyst reports. 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 reiterated a “buy” rating and issued a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Barclays upped their price objective on 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. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and lifted their target price for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Finally, Compass Point increased their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $221.68.

M&T Bank Price Performance

MTB stock opened at $197.06 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a market capitalization of $32.70 billion, a P/E ratio of 13.47, a PEG ratio of 1.42 and a beta of 0.79. The company has a fifty day moving average price of $196.15 and a 200-day moving average price of $188.55.

M&T Bank (NYSE:MTB) last announced 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 last year, the company posted $2.74 earnings per share. As a group, equities analysts expect that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s payout ratio is presently 36.91%.

M&T Bank announced that its board has approved a stock repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the 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 sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,611 shares of company stock valued at $5,354,777. 0.82% of the stock is currently owned by company insiders.

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