Captrust Financial Advisors Purchases 1,380 Shares of M&T Bank Co. (NYSE:MTB)

Captrust Financial Advisors increased its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,141 shares of the financial services provider's stock after purchasing an additional 1,380 shares during the quarter. Captrust Financial Advisors' holdings in M&T Bank were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of M&T Bank by 14.3% in the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after buying an additional 1,761,014 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of M&T Bank by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock valued at $994,522,000 after buying an additional 252,583 shares in the last quarter. Geode Capital Management LLC grew its position in shares of M&T Bank by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after purchasing an additional 40,948 shares in the last quarter. Norges Bank bought a new position in M&T Bank in the 4th quarter worth approximately $317,690,000. Finally, Northern Trust Corp grew its holdings in M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock valued at $316,483,000 after buying an additional 215,100 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at $1,852,827.34. The trade was a 13.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.53% of the company's stock.

M&T Bank Price Performance

MTB stock traded down $0.83 during trading on Monday, hitting $186.90. The stock had a trading volume of 92,401 shares, compared to its average volume of 1,343,815. The company's 50 day moving average price is $171.22 and its two-hundred day moving average price is $189.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The stock has a market cap of $30.00 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth 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.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business earned $3.09 earnings per share. On average, sell-side analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has approved 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 reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio is 36.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MTB shares. TD Cowen assumed coverage on M&T Bank in a report on Thursday. They issued a "buy" rating and a $230.00 target price on the stock. Robert W. Baird reduced their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Cowen initiated coverage on M&T Bank in a research report on Wednesday. They set a "buy" rating for the company. Piper Sandler reduced their price target on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $209.33.

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.