Focus Partners Advisor Solutions LLC Acquires 3,037 Shares of M&T Bank Co. (NYSE:MTB)

Focus Partners Advisor Solutions LLC boosted its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 81.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,774 shares of the financial services provider's stock after acquiring an additional 3,037 shares during the period. Focus Partners Advisor Solutions LLC's holdings in M&T Bank were worth $1,274,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its position in shares of 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 worth $2,652,899,000 after purchasing an additional 1,761,014 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in M&T Bank by 5.0% in the fourth 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 during the period. Geode Capital Management LLC boosted its holdings in 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 buying an additional 40,948 shares during the last quarter. Norges Bank acquired a new position in shares of M&T Bank during the 4th quarter worth about $317,690,000. Finally, Northern Trust Corp increased its stake in shares of M&T Bank by 14.7% in 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 acquiring an additional 215,100 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction dated Wednesday, March 12th. The stock was 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 of the company's stock, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company's stock.

M&T Bank Trading Up 0.3%

NYSE MTB opened at $180.52 on Friday. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. 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's 50 day moving average price is $172.02 and its two-hundred day moving average price is $189.04. The stock has a market capitalization of $28.98 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data 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 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 last year, the business earned $3.09 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.99%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MTB. Citigroup reduced their price objective on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. reduced their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Piper Sandler decreased their price target on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a research note on Monday. Finally, TD Cowen began coverage on M&T Bank in a research note on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of "Moderate Buy" and a consensus target price of $212.53.

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.

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