Silverlake Wealth Management LLC Decreases Holdings in M&T Bank Co. (NYSE:MTB)

Silverlake Wealth Management LLC decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,081 shares of the financial services provider’s stock after selling 460 shares during the quarter. Silverlake Wealth Management LLC’s holdings in M&T Bank were worth $203,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MTB. Sanctuary Advisors LLC acquired a new position in shares of M&T Bank during the 2nd quarter worth approximately $2,013,000. Park Avenue Securities LLC raised its position in shares of M&T Bank by 5.3% during the 3rd quarter. Park Avenue Securities LLC now owns 5,740 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 289 shares during the last quarter. Czech National Bank raised its position in shares of M&T Bank by 7.0% during the 3rd quarter. Czech National Bank now owns 34,019 shares of the financial services provider’s stock worth $6,059,000 after purchasing an additional 2,224 shares during the last quarter. GAMMA Investing LLC raised its position in shares of M&T Bank by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,378 shares of the financial services provider’s stock worth $602,000 after purchasing an additional 768 shares during the last quarter. Finally, City Center Advisors LLC acquired a new position in shares of M&T Bank during the 3rd quarter worth approximately $234,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on MTB. Evercore ISI boosted their price target on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial reiterated a “buy” rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday. Barclays boosted their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price target on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Up 0.4 %

Shares of M&T Bank stock opened at $198.67 on Thursday. The company has a fifty day moving average price of $198.31 and a 200 day moving average price of $187.54. 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 twelve month low of $128.31 and a twelve month high of $225.70. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results 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 quarter in the previous year, the business posted $2.74 earnings per share. Equities research analysts forecast that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

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

M&T Bank announced that its Board of Directors has initiated 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 reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael J. Todaro sold 4,786 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the completion of the transaction, the executive vice president now directly owns 2,787 shares of the company’s stock, valued at approximately $596,696.70. The trade was a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,397 shares of company stock valued at $6,379,459 in the last ninety days. Insiders own 0.82% of the company’s stock.

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.