M&T Bank Corporation (NYSE:MTB) Shares Acquired by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. lifted its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 1,095.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,736 shares of the financial services provider's stock after buying an additional 15,336 shares during the quarter. Avantax Planning Partners Inc.'s holdings in M&T Bank were worth $2,992,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its holdings in M&T Bank by 14.3% in the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after buying an additional 1,761,014 shares during the period. Norges Bank acquired a new position in shares of M&T Bank in the 4th quarter valued at $317,690,000. GAMMA Investing LLC boosted its holdings in shares of M&T Bank by 18,471.2% in the 1st quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock valued at $126,145,000 after purchasing an additional 701,905 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of M&T Bank by 22.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock worth $294,662,000 after buying an additional 286,049 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of M&T Bank during the 4th quarter worth $48,939,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Up 1.3%

MTB stock traded up $2.52 during midday trading on Friday, hitting $202.58. 838,320 shares of the company's stock were exchanged, compared to its average volume of 1,188,657. The firm has a 50 day moving average price of $182.73 and a 200-day moving average price of $183.61. M&T Bank Corporation has a 12-month low of $145.82 and a 12-month high of $225.70. The stock has a market capitalization of $32.52 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39.

M&T Bank (NYSE:MTB - Get Free Report) last posted 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 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 19.86% and a return on equity of 10.18%. During the same period in the prior year, the company earned $3.09 earnings per share. On average, analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's dividend payout ratio is presently 36.17%.

Insiders Place Their Bets

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the sale, the director directly owned 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. DA Davidson decreased their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Truist Financial reduced 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 report on Tuesday, April 15th. Citigroup increased their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Piper Sandler cut their target price 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, April 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned 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 price target of $211.48.

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.