M&T Bank Co. (NYSE:MTB) Shares Bought by Argent Trust Co

Argent Trust Co lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,956 shares of the financial services provider’s stock after buying an additional 439 shares during the quarter. Argent Trust Co’s holdings in M&T Bank were worth $368,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd increased its holdings in 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 valued at $39,000 after buying an additional 114 shares during the last quarter. Human Investing LLC purchased a new position in shares of M&T Bank in the 4th quarter valued at about $44,000. Sierra Ocean LLC purchased a new position in shares of M&T Bank in the 4th quarter valued at about $44,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank during the 4th quarter worth about $52,000. Finally, Principal Securities Inc. lifted its stake in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 132 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

Shares of MTB opened at $157.82 on Friday. M&T Bank Co. has a 1 year low of $133.08 and a 1 year high of $225.70. The stock has a market capitalization of $25.93 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company’s fifty day moving average is $181.27 and its two-hundred day moving average is $191.77.

M&T Bank (NYSE:MTB) last posted its quarterly 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the company earned $2.74 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

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

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.42%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Truist Financial cut their price target on shares of M&T Bank from $236.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Wells Fargo & Company decreased their price objective on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a research note on Friday, March 28th. Morgan Stanley cut their target price on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, DA Davidson upped their target price on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. 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 stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $215.97.

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