Canada Pension Plan Investment Board Purchases 4,693 Shares of M&T Bank Co. (NYSE:MTB)

Canada Pension Plan Investment Board raised its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 48.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,421 shares of the financial services provider's stock after buying an additional 4,693 shares during the period. Canada Pension Plan Investment Board's holdings in M&T Bank were worth $2,711,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Y.D. More Investments Ltd grew its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 114 shares during the last quarter. Human Investing LLC acquired a new stake in M&T Bank during the fourth quarter valued at approximately $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank during the fourth quarter valued at approximately $44,000. Loomis Sayles & Co. L P acquired a new stake in M&T Bank during the fourth quarter valued at approximately $52,000. Finally, Principal Securities Inc. raised 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 acquiring an additional 132 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Activity at M&T Bank

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

M&T Bank Stock Performance

Shares of NYSE MTB traded up $1.33 during midday trading on Monday, hitting $168.72. 884,425 shares of the company's stock were exchanged, compared to its average volume of 1,119,813. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $139.78 and a 12 month high of $225.70. The company's 50 day moving average price is $173.21 and its 200 day moving average price is $190.75. The firm has a market capitalization of $27.72 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the firm earned $3.09 earnings per share. As a group, analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its board has approved a share buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in 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 typically an indication that the company's leadership believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid 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 3.20%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reduced their target price on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Robert W. Baird dropped their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley dropped their target price on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Truist Financial dropped their target price on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.