Nisa Investment Advisors LLC Purchases 3,404 Shares of M&T Bank Co. (NYSE:MTB)

Nisa Investment Advisors LLC lifted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,741 shares of the financial services provider’s stock after acquiring an additional 3,404 shares during the quarter. Nisa Investment Advisors LLC’s holdings in M&T Bank were worth $13,300,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after purchasing an additional 1,508,846 shares during the last quarter. State Street Corp boosted its stake in M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of M&T Bank during the 3rd quarter valued at approximately $44,422,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after acquiring an additional 190,837 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in M&T Bank by 30.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 599,995 shares of the financial services provider’s stock worth $106,871,000 after buying an additional 141,337 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of MTB opened at $196.96 on Friday. The firm has a fifty day simple moving average of $201.43 and a two-hundred day simple moving average of $184.73. The firm has a market cap of $32.68 billion, a PE ratio of 13.46, a P/E/G ratio of 1.39 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates 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 firm earned $2.74 earnings per share. On average, equities analysts anticipate that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on MTB shares. Barclays upped their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Royal Bank of Canada lifted their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Truist Financial reissued a “buy” rating and set a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. JPMorgan Chase & Co. reissued 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. Finally, Bank of America lifted their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $221.68.

Insider Buying and Selling

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,994 shares of company stock valued at $13,331,878. 0.82% of the stock is owned by insiders.

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.