Corient Private Wealth LLC Trims Stock Position in M&T Bank Co. (NYSE:MTB)

Corient Private Wealth LLC cut its position in shares of M&T Bank Co. (NYSE:MTB) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,769 shares of the financial services provider’s stock after selling 4,869 shares during the period. Corient Private Wealth LLC’s holdings in M&T Bank were worth $3,905,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Y.D. More Investments Ltd raised its stake in M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC purchased a new position in M&T Bank during the fourth quarter worth about $44,000. Sierra Ocean LLC purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $44,000. Principal Securities Inc. raised its stake in shares of M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 132 shares during the period. Finally, Kentucky Trust Co purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $92,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction 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 company insiders.

M&T Bank Trading Up 0.7 %

Shares of MTB stock opened at $178.19 on Friday. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $190.99 and its two-hundred day moving average is $192.18. The company has a market cap of $29.27 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last announced 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 quarter in the prior year, the firm earned $2.74 EPS. Equities analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.03%. M&T Bank’s dividend payout ratio is 36.91%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI lowered their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. 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 report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Finally, Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $222.03.

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.