M&T Bank Co. (NYSE:MTB) Position Trimmed by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 8.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,466 shares of the financial services provider's stock after selling 15,044 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.10% of M&T Bank worth $30,733,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MTB. Hennion & Walsh Asset Management Inc. grew its stake in M&T Bank by 34.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider's stock worth $1,473,000 after purchasing an additional 2,018 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock worth $515,000 after purchasing an additional 1,295 shares in the last quarter. US Bancorp DE raised its position in shares of M&T Bank by 24.3% during the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock valued at $1,576,000 after buying an additional 1,639 shares during the period. Summit Trail Advisors LLC purchased a new stake in M&T Bank in the fourth quarter valued at approximately $290,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of M&T Bank in the fourth quarter worth $297,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other M&T Bank 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 value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MTB has been the topic of several research reports. Morgan Stanley dropped their price objective on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Truist Financial dropped their target price on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. DA Davidson cut their price objective on M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. 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, April 24th. Finally, Barclays lowered their target price on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $208.24.

M&T Bank Stock Down 0.6%

Shares of M&T Bank stock traded down $1.11 during trading on Wednesday, reaching $185.39. The company had a trading volume of 1,125,837 shares, compared to its average volume of 1,132,936. The company has a market cap of $29.76 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The firm's fifty day moving average is $170.49 and its 200-day moving average is $189.48. 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 Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to analyst estimates 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 company posted $3.09 EPS. On average, analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its Board of Directors has initiated a stock 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 purchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

M&T Bank Announces Dividend

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

About M&T Bank

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.