M&T Bank Co. (NYSE:MTB) Shares Bought by US Bancorp DE

US Bancorp DE lifted its holdings in M&T Bank Co. (NYSE:MTB) by 24.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,382 shares of the financial services provider’s stock after purchasing an additional 1,639 shares during the period. US Bancorp DE’s holdings in M&T Bank were worth $1,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MTB. Sanctuary Advisors LLC increased its stake in M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares in the last quarter. Catalina Capital Group LLC increased its stake in M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after buying an additional 56 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in M&T Bank by 1.2% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock worth $975,000 after buying an additional 63 shares in the last quarter. Pitcairn Co. increased its stake in M&T Bank by 0.8% during the 3rd quarter. Pitcairn Co. now owns 9,362 shares of the financial services provider’s stock worth $1,668,000 after buying an additional 70 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in M&T Bank by 4.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,860 shares of the financial services provider’s stock worth $350,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MTB shares. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $236.00 target price (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. The Goldman Sachs Group upped their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. DA Davidson upped their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Barclays upped their price target on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Trading Up 0.9 %

Shares of M&T Bank stock opened at $178.62 on Friday. 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 50-day moving average of $194.07 and a two-hundred day moving average of $191.77. 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 cap of $29.34 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results 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 net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the firm posted $2.74 EPS. On average, research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.02%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.