1,100 Shares in M&T Bank Co. (NYSE:MTB) Acquired by Enhancing Capital LLC

Enhancing Capital LLC acquired a new stake in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,100 shares of the financial services provider’s stock, valued at approximately $207,000.

A number of other institutional investors have also added to or reduced their stakes in MTB. Y.D. More Investments Ltd grew its holdings in 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 buying an additional 114 shares in the last quarter. Human Investing LLC purchased a new stake in M&T Bank during the 4th quarter valued at approximately $44,000. Sierra Ocean LLC purchased a new stake in M&T Bank during the 4th quarter valued at approximately $44,000. Principal Securities Inc. grew its holdings in M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after buying an additional 132 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in M&T Bank during the 3rd quarter valued at approximately $91,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTB. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Evercore ISI lowered their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. DA Davidson increased their target price on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Finally, Piper Sandler increased their target price 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $222.03.

M&T Bank Stock Down 0.3 %

NYSE:MTB opened at $174.82 on Wednesday. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The company has a market cap of $28.72 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The stock has a fifty day simple moving average of $191.75 and a 200-day simple moving average of $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 released its earnings results 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 in the prior year, the business earned $2.74 earnings per share. Analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given 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 dividend yield of 3.09%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.