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:MTBFree Report) 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.

Read Our Latest Report on MTB

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:MTBGet Free Report) 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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTBFree Report).

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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