M&T Bank Co. (NYSE:MTB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of M&T Bank Co. (NYSE:MTB) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,435 shares of the financial services provider’s stock after selling 368 shares during the period. Allspring Global Investments Holdings LLC’s holdings in M&T Bank were worth $1,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC grew its holdings in M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after acquiring an additional 1,508,846 shares during the period. State Street Corp grew its holdings in M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after purchasing an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in M&T Bank by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after purchasing an additional 190,837 shares during the period. Geode Capital Management LLC grew its holdings in M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after purchasing an additional 66,337 shares during the period. Finally, Senvest Management LLC grew its holdings in M&T Bank by 12.3% in the third quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after purchasing an additional 96,500 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction dated 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 directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 2.0 %

MTB opened at $193.48 on Friday. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The stock has a market capitalization of $32.10 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.40 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. The business has a fifty day moving average price of $195.09 and a 200 day moving average price of $189.87.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (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 quarter in the previous year, the company posted $2.74 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has authorized a stock 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 repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.79%. M&T Bank’s dividend payout ratio is currently 36.91%.

Wall Street Analyst Weigh In

Several brokerages have commented on MTB. Wells Fargo & Company raised their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays lifted their price objective on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Truist Financial reiterated a “buy” rating and set a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Finally, Piper Sandler lifted their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $221.68.

About M&T Bank

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.