Janus Henderson Group PLC Boosts Stock Position in M&T Bank Co. (NYSE:MTB)

Janus Henderson Group PLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 32.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,223 shares of the financial services provider's stock after acquiring an additional 6,936 shares during the quarter. Janus Henderson Group PLC's holdings in M&T Bank were worth $5,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock valued at $3,195,000 after purchasing an additional 52 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of M&T Bank by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock valued at $183,000 after purchasing an additional 53 shares during the period. Catalina Capital Group LLC lifted its stake in shares of M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock valued at $531,000 after buying an additional 56 shares in the last quarter. Parallel Advisors LLC boosted its holdings in M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after buying an additional 60 shares during the period. Finally, Forum Financial Management LP increased its stake in M&T Bank by 2.2% in the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock worth $540,000 after buying an additional 62 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on 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 in the company, valued at $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 SEC, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MTB shares. Citigroup lowered their price objective on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Truist Financial cut their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price on the stock in a report on Thursday, April 24th. Finally, TD Cowen started coverage on shares of M&T Bank in a research note on Thursday. They set a "buy" rating and a $230.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $209.33.

M&T Bank Trading Up 0.4%

MTB stock opened at $187.78 on Monday. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70. The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. 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's fifty day simple moving average is $171.22 and its two-hundred day simple moving average is $189.23.

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 the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion for 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 in the previous year, the company posted $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 year.

M&T Bank declared that its board has approved a stock buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors 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. Investors 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 2.88%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.17%.

M&T Bank Company 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.

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