M&T Bank Co. (NYSE:MTB) Shares Bought by Curi RMB Capital LLC

Curi RMB Capital LLC lifted its position in M&T Bank Co. (NYSE:MTB) by 43.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,480 shares of the financial services provider’s stock after buying an additional 20,076 shares during the period. Curi RMB Capital LLC’s holdings in M&T Bank were worth $12,499,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. First Trust Advisors LP grew its position in M&T Bank by 2.1% in the fourth quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider’s stock worth $301,892,000 after buying an additional 33,017 shares during the last quarter. Forum Financial Management LP boosted its stake in shares of M&T Bank by 2.2% during the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 62 shares in the last quarter. Frederick Financial Consultants LLC acquired a new position in shares of M&T Bank in the 4th quarter worth $223,000. CANADA LIFE ASSURANCE Co raised its position in shares of M&T Bank by 63.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 210,461 shares of the financial services provider’s stock worth $39,568,000 after purchasing an additional 81,570 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of M&T Bank by 48.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 14,421 shares of the financial services provider’s stock valued at $2,711,000 after purchasing an additional 4,693 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MTB shares. DA Davidson dropped their price target on M&T Bank from $205.00 to $189.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Truist Financial cut their price target on shares of M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley decreased their price objective on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Evercore ISI cut their target price on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company decreased their target price on M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average price target of $208.14.

Insider Activity

In related 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 transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Performance

MTB opened at $160.09 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company has a market cap of $26.30 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The stock has a 50-day moving average of $177.25 and a 200-day moving average of $191.23. M&T Bank Co. has a 52-week low of $139.78 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the company earned $3.09 EPS. As a group, equities research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.17%.

M&T Bank declared that its Board of Directors has initiated a share buyback 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 buy up to 12.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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