Stephens Inc. AR Decreases Stake in M&T Bank Co. (NYSE:MTB)

Stephens Inc. AR cut its position in M&T Bank Co. (NYSE:MTB) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,161 shares of the financial services provider’s stock after selling 51 shares during the period. Stephens Inc. AR’s holdings in M&T Bank were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MTB. Plato Investment Management Ltd increased its holdings in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of M&T Bank during the 3rd quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of 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 acquiring an additional 158 shares in the last quarter. Y.D. More Investments Ltd raised its position in shares of M&T Bank by 122.6% during 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. Finally, Capital Performance Advisors LLP purchased a new position in M&T Bank in the third quarter valued at approximately $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MTB. Piper Sandler boosted their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Barclays upped their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. 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 research report on Friday, January 17th. Wells Fargo & Company upped their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $221.68.

Insider Buying and Selling at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,611 shares of company stock valued at $5,354,777. 0.82% of the stock is owned by company insiders.

M&T Bank Stock Up 0.8 %

Shares of NYSE:MTB opened at $198.75 on Monday. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $195.59 and its 200-day simple moving average is $188.90. The company has a market cap of $32.98 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.42 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating 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 period last year, the firm posted $2.74 EPS. As a group, equities research analysts predict that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.72%. The ex-dividend date was Monday, December 2nd. M&T Bank’s payout ratio is 36.91%.

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

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.