M&T Bank Co. (NYSE:MTB) Stock Position Raised by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in shares of M&T Bank Co. (NYSE:MTB) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,555 shares of the financial services provider’s stock after purchasing an additional 121 shares during the period. Commonwealth Equity Services LLC’s holdings in M&T Bank were worth $13,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTB. Y.D. More Investments Ltd raised its stake 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 worth $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC bought a new position in shares of M&T Bank in the 4th quarter valued at approximately $44,000. Sierra Ocean LLC bought a new position 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 in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of M&T Bank in the 3rd quarter valued at approximately $91,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MTB. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Piper Sandler raised their price objective on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Morgan Stanley cut their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, DA Davidson raised their target price on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $222.03.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $174.82 on Wednesday. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70. The firm has a market capitalization of $28.72 billion, a PE ratio of 11.95, a PEG ratio of 1.38 and a beta of 0.74. The business’s 50 day moving average is $191.75 and its 200-day moving average is $192.21. 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 (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping 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 last year, the firm posted $2.74 EPS. 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 of Directors has authorized a share repurchase plan 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 repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

About M&T Bank

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.