M&T Bank Co. (NYSE:MTB) Shares Acquired by Ethic Inc.

Ethic Inc. increased its position in shares of M&T Bank Co. (NYSE:MTB) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,357 shares of the financial services provider’s stock after purchasing an additional 374 shares during the quarter. Ethic Inc.’s holdings in M&T Bank were worth $3,827,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MTB. Barclays PLC boosted its position in shares of M&T Bank by 11.9% in the 3rd quarter. Barclays PLC now owns 578,266 shares of the financial services provider’s stock worth $102,999,000 after buying an additional 61,375 shares in the last quarter. Franklin Resources Inc. raised its position in M&T Bank by 45.5% during the third quarter. Franklin Resources Inc. now owns 21,481 shares of the financial services provider’s stock worth $3,986,000 after acquiring an additional 6,717 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of M&T Bank by 1.4% in the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after purchasing an additional 2,797 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of M&T Bank by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 14,036 shares of the financial services provider’s stock valued at $2,643,000 after purchasing an additional 927 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of M&T Bank by 9.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,774 shares of the financial services provider’s stock valued at $3,166,000 after purchasing an additional 1,468 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

M&T Bank Stock Down 0.3 %

Shares of NYSE:MTB opened at $177.11 on Friday. The stock has a 50-day simple moving average of $170.16 and a 200-day simple moving average of $189.59. The stock has a market capitalization of $29.10 billion, a P/E ratio of 12.11, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm earned $3.09 earnings per share. Equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its board has initiated 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 reacquire up to 12.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MTB. Royal Bank of Canada reduced their target price on M&T Bank from $208.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company reduced their price objective on M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 15th. Piper Sandler decreased their price objective on M&T Bank from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Citigroup cut 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 research note on Monday, March 24th. Finally, StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average target price of $208.24.

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.