M&T Bank Co. (NYSE:MTB) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in M&T Bank Co. (NYSE:MTB) by 0.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,496,793 shares of the financial services provider’s stock after purchasing an additional 42,377 shares during the period. Vanguard Group Inc. owned 0.12% of M&T Bank worth $3,665,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Y.D. More Investments Ltd grew its position in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC acquired a new position in M&T Bank in the fourth quarter worth $44,000. Sierra Ocean LLC bought a new stake in M&T Bank during the fourth quarter valued at $44,000. Principal Securities Inc. raised its holdings in shares of M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 132 shares during the period. Finally, Kentucky Trust Co acquired a new position in shares of M&T Bank in the 4th quarter valued at about $92,000. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTB. Compass Point raised their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley reduced their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Piper Sandler increased their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Citigroup lowered their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $219.97.

M&T Bank Stock Up 2.4 %

Shares of NYSE:MTB opened at $182.50 on Tuesday. The firm has a 50 day simple moving average of $190.82 and a 200 day simple moving average of $192.44. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company has a market cap of $29.98 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 period in the previous year, the firm earned $2.74 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 16.57 earnings per share 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 issued a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. M&T Bank’s dividend payout ratio is 36.91%.

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

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value 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 represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.