Aptus Capital Advisors LLC Has $766,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Aptus Capital Advisors LLC boosted its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 96.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,073 shares of the financial services provider's stock after purchasing an additional 2,001 shares during the quarter. Aptus Capital Advisors LLC's holdings in M&T Bank were worth $766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its holdings 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 buying an additional 114 shares during the period. Human Investing LLC acquired a new stake in shares of M&T Bank in the fourth quarter worth $44,000. Sierra Ocean LLC bought a new stake in M&T Bank in the 4th quarter valued at $44,000. Loomis Sayles & Co. L P bought a new position in shares of M&T Bank during the 4th quarter worth about $52,000. Finally, Principal Securities Inc. lifted its stake in shares of M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock valued at $77,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at $1,852,827.34. This trade represents a 13.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

MTB has been the topic of a number of research reports. Evercore ISI lowered their price objective on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Robert W. Baird cut their price target on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Barclays lowered their price objective on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler dropped their price objective on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley dropped their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank currently has an average rating of "Hold" and an average price target of $208.24.

M&T Bank Trading Up 4.8%

Shares of M&T Bank stock traded up $8.55 on Monday, hitting $185.70. 366,621 shares of the company's stock traded hands, compared to its average volume of 1,125,149. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The stock has a market capitalization of $30.51 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The firm's 50-day moving average price is $170.16 and its two-hundred day moving average price is $189.56. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 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 company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $3.09 earnings per share. On average, research analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has initiated a share repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.91%. M&T Bank's dividend payout ratio is currently 36.17%.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.