M&T Bank Co. (NYSE:MTB) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,171 shares of the financial services provider’s stock after selling 1,084 shares during the period. Private Advisor Group LLC’s holdings in M&T Bank were worth $4,920,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Plato Investment Management Ltd raised its position in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank during the 3rd quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. Y.D. More Investments Ltd raised its position in shares of M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Finally, Human Investing LLC acquired a new stake in shares of M&T Bank during the 4th quarter valued at approximately $44,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods increased their target price on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays increased their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Evercore ISI increased their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $221.68.

Insider Activity at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 2.0 %

NYSE:MTB opened at $193.48 on Friday. The business has a fifty day moving average of $195.09 and a 200-day moving average of $190.08. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The stock has a market cap of $31.80 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.38 and a beta of 0.79. 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 (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 previous year, the company earned $2.74 earnings per share. Equities analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.79%. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has authorized a share buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are generally 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.