Fuller & Thaler Asset Management Inc. Boosts Position in M&T Bank Co. (NYSE:MTB)

Fuller & Thaler Asset Management Inc. grew its position in M&T Bank Co. (NYSE:MTB) by 5.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,818 shares of the financial services provider’s stock after purchasing an additional 1,831 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in M&T Bank were worth $6,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its position in M&T Bank by 34.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after buying an additional 2,018 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in M&T Bank by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 1,295 shares in the last quarter. US Bancorp DE raised its stake in M&T Bank by 24.3% in the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock valued at $1,576,000 after purchasing an additional 1,639 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in M&T Bank in the 4th quarter valued at about $290,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $297,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $167.44 on Friday. The firm’s fifty day simple moving average is $173.82 and its 200 day simple moving average is $190.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70. The firm has a market capitalization of $27.51 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 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 analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $3.09 EPS. As a group, equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its board has approved a stock buyback plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio is presently 36.17%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MTB. DA Davidson cut their price objective on shares of M&T Bank from $205.00 to $189.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Truist Financial reduced their price target on M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada lowered their price objective on M&T Bank from $208.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their target price on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Evercore ISI lowered their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus price target of $208.24.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction dated 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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.

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.