Addison Advisors LLC Buys 150 Shares of M&T Bank Co. (NYSE:MTB)

Addison Advisors LLC boosted its stake in shares of M&T Bank Co. (NYSE:MTB) by 9.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,811 shares of the financial services provider’s stock after acquiring an additional 150 shares during the period. Addison Advisors LLC’s holdings in M&T Bank were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd boosted its stake in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in M&T Bank during the 3rd quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after buying an additional 158 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of M&T Bank by 122.6% in 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 during the last quarter. Finally, Human Investing LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

M&T Bank stock opened at $192.82 on Tuesday. 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 company has a market capitalization of $31.69 billion, a PE ratio of 13.18, a P/E/G ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The stock has a 50-day moving average price of $194.95 and a two-hundred day moving average price of $190.51.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating 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 prior year, the firm earned $2.74 earnings per share. Analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its Board of Directors has approved a share buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.80%. M&T Bank’s payout ratio is 36.91%.

Insider Activity

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of recent research reports. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Truist Financial reaffirmed a “buy” rating and set a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. DA Davidson lifted their target price on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price target 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 investment 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, the company currently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Company 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.