M&T Bank Co. (NYSE:MTB) Shares Bought by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lifted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 169,225 shares of the financial services provider’s stock after buying an additional 95 shares during the period. Tocqueville Asset Management L.P.’s holdings in M&T Bank were worth $31,816,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after buying an additional 114 shares during the period. Human Investing LLC purchased a new position in M&T Bank in the 4th quarter worth approximately $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank in the fourth quarter valued at approximately $44,000. Principal Securities Inc. raised its stake in shares of M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 132 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of M&T Bank during the third quarter worth $91,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MTB. Morgan Stanley lowered their price target 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. Piper Sandler lifted their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. DA Davidson increased their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Compass Point upped their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $222.03.

M&T Bank Trading Up 0.0 %

Shares of MTB stock opened at $175.61 on Tuesday. The firm has a market capitalization of $28.85 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. 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 1 year low of $133.03 and a 1 year high of $225.70. The stock has a fifty day moving average of $192.09 and a two-hundred day moving average of $192.19.

M&T Bank (NYSE:MTB) last released its quarterly earnings results 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the business posted $2.74 EPS. As a group, research analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its board has approved a share repurchase 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 purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s payout ratio is currently 36.91%.

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