Commerce Bank Has $1.39 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Commerce Bank reduced its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 22.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,375 shares of the financial services provider's stock after selling 2,188 shares during the period. Commerce Bank's holdings in M&T Bank were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MTB. Y.D. More Investments Ltd raised its stake in M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC bought a new stake in shares of M&T Bank in the 4th quarter worth about $44,000. Sierra Ocean LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $44,000. Loomis Sayles & Co. L P bought a new position in M&T Bank during the 4th quarter valued at about $52,000. Finally, Principal Securities Inc. boosted its position in 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 in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, 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 through this link. 0.53% of the stock is owned by corporate insiders.

M&T Bank Stock Down 1.0 %

Shares of NYSE:MTB traded down $1.72 during midday trading on Friday, reaching $167.44. 829,177 shares of the company were exchanged, compared to its average volume of 1,120,758. The firm has a market cap of $27.51 billion, a PE ratio of 11.44, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The stock has a fifty day simple moving average of $173.82 and a two-hundred day simple moving average of $190.86. 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 (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates 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, sell-side 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 stock repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.23%. M&T Bank's dividend payout ratio is currently 36.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird reduced their target price on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada lowered their target price on M&T Bank from $208.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley reduced their price target on shares of 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. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a research note on Thursday. Finally, Truist Financial decreased their price target on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, M&T Bank has an average rating of "Hold" and a consensus price target 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.