Wellington Shields & Co. LLC Raises Position in M&T Bank Co. (NYSE:MTB)

Wellington Shields & Co. LLC lifted its stake in M&T Bank Co. (NYSE:MTB) by 5.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,966 shares of the financial services provider’s stock after acquiring an additional 98 shares during the quarter. Wellington Shields & Co. LLC’s holdings in M&T Bank were worth $370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MTB. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank in the third quarter worth about $32,000. Venturi Wealth Management LLC lifted its stake in shares of M&T Bank by 68.3% in the third quarter. Venturi Wealth Management LLC now owns 488 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 198 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in shares of M&T Bank by 21.1% in the third quarter. Apollon Wealth Management LLC now owns 2,678 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 467 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of M&T Bank by 8.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 467,801 shares of the financial services provider’s stock worth $83,325,000 after acquiring an additional 36,822 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its stake in shares of M&T Bank by 5.8% in the third quarter. Aptus Capital Advisors LLC now owns 2,072 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MTB. Truist Financial reiterated a “buy” rating and issued a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. DA Davidson boosted their price target on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group boosted their price target on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. One 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $222.03.

M&T Bank Stock Up 3.1 %

Shares of M&T Bank stock opened at $175.69 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $192.44 and its 200-day simple moving average is $191.83. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.38 and a beta of 0.74. 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 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 return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the business posted $2.74 EPS. Equities research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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.