FIL Ltd Purchases 1,990 Shares of M&T Bank Co. (NYSE:MTB)

FIL Ltd grew its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 83.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,367 shares of the financial services provider's stock after acquiring an additional 1,990 shares during the quarter. FIL Ltd's holdings in M&T Bank were worth $821,000 as of its most recent filing with the SEC.

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

Insider Activity

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Stock Up 0.8 %

Shares of M&T Bank stock traded up $1.19 during midday trading on Friday, hitting $160.09. The company's stock had a trading volume of 1,105,142 shares, compared to its average volume of 1,111,701. M&T Bank Co. has a 1-year low of $138.38 and a 1-year high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $26.30 billion, a P/E ratio of 10.94, a PEG ratio of 1.38 and a beta of 0.58. The stock has a 50-day simple moving average of $178.03 and a 200-day simple moving average of $191.19.

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 for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The business 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 in the prior year, the company earned $3.09 EPS. As a group, sell-side analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its board has authorized a stock buyback plan 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 repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is currently 36.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Robert W. Baird lowered their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday. Morgan Stanley lowered their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company reduced their price target on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research note on Tuesday. Piper Sandler lowered their price objective on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Evercore ISI dropped their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $208.14.

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.