Howe & Rusling Inc. Acquires 407 Shares of M&T Bank Co. (NYSE:MTB)

Howe & Rusling Inc. increased its holdings in M&T Bank Co. (NYSE:MTB) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,195 shares of the financial services provider’s stock after acquiring an additional 407 shares during the quarter. Howe & Rusling Inc.’s holdings in M&T Bank were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its stake in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC purchased a new stake in shares of M&T Bank in the 4th quarter worth approximately $44,000. Sierra Ocean LLC bought a new position in M&T Bank during the 4th quarter valued at approximately $44,000. Principal Securities Inc. raised its stake in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after buying an additional 132 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in M&T Bank in the third quarter worth $91,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MTB shares. Truist Financial reaffirmed a “buy” rating and issued a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Citigroup decreased their target price on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a report on Monday. DA Davidson increased their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Evercore ISI lowered their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods increased their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $219.97.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $179.64 on Friday. The firm’s 50 day moving average price is $189.87 and its 200-day moving average price is $192.40. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $29.51 billion, a PE ratio of 12.28, a price-to-earnings-growth 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 issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating 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 prior year, the business posted $2.74 earnings per share. Equities research analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

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

Insider Activity

In related news, EVP Christopher E. Kay sold 1,738 shares of the 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 completion of the sale, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

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.