IFP Advisors Inc Has $1.42 Million Holdings in M&T Bank Co. (NYSE:MTB)

IFP Advisors Inc increased its position in M&T Bank Co. (NYSE:MTB) by 1,620.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,536 shares of the financial services provider’s stock after purchasing an additional 7,098 shares during the period. IFP Advisors Inc’s holdings in M&T Bank were worth $1,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its position in shares of M&T Bank by 34.7% in 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 during the period. Capital Performance Advisors LLP acquired a new stake in M&T Bank during the 3rd quarter worth about $44,000. Flagship Harbor Advisors LLC grew its stake 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 valued at $515,000 after acquiring an additional 1,295 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in shares of M&T Bank in the 4th quarter valued at about $290,000. Finally, Principal Financial Group Inc. increased its holdings in shares of M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after purchasing an additional 2,797 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by company insiders.

M&T Bank Stock Down 0.6 %

MTB opened at $189.54 on Thursday. The firm has a market cap of $31.15 billion, a P/E ratio of 12.96, a price-to-earnings-growth 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. The business has a 50 day moving average price of $194.90 and a 200 day moving average price of $190.70. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business earned $2.74 earnings per share. Research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its Board of Directors has approved a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

Wall Street Analyst Weigh In

Several analysts recently commented on MTB shares. Compass Point raised their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group lifted their target price on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler boosted their target price 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average target price of $221.68.

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.