234 Shares in M&T Bank Co. (NYSE:MTB) Acquired by Human Investing LLC

Human Investing LLC acquired a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 234 shares of the financial services provider’s stock, valued at approximately $44,000.

Other institutional investors have also added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. increased its position in M&T Bank by 34.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 2,018 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in M&T Bank during the 3rd quarter worth approximately $44,000. 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. Principal Financial Group Inc. grew its holdings in M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after acquiring an additional 2,797 shares during the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in M&T Bank during the 4th quarter worth approximately $290,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Up 0.8 %

Shares of NYSE MTB opened at $198.75 on Monday. The firm has a market cap of $32.98 billion, a PE ratio of 13.59, a P/E/G ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The company’s fifty day simple moving average is $195.59 and its 200 day simple moving average is $188.90. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last issued its 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 last year, the firm earned $2.74 EPS. As a group, sell-side analysts forecast that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

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

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.72%. M&T Bank’s payout ratio is 36.91%.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the transaction, the director now owns 35,480 shares in the company, valued at approximately $7,715,126. This represents a 36.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,611 shares of company stock worth $5,354,777. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MTB shares. Truist Financial reissued a “buy” rating and set a $236.00 target price (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Keefe, Bruyette & Woods boosted their target price on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. The Goldman Sachs Group boosted their target price on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Evercore ISI boosted their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $221.68.

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.