M&T Bank Co. (NYSE:MTB) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in M&T Bank Co. (NYSE:MTB - Free Report) by 100.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,686 shares of the financial services provider's stock after purchasing an additional 16,380 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in M&T Bank were worth $6,145,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings 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 valued at $2,652,899,000 after buying an additional 1,761,014 shares during the period. Norges Bank acquired a new position in M&T Bank during the fourth quarter worth $317,690,000. Nuveen Asset Management LLC raised its position in M&T Bank by 22.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock worth $294,662,000 after acquiring an additional 286,049 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in M&T Bank in the fourth quarter valued at $48,939,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of M&T Bank by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after purchasing an additional 252,583 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company'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 transaction of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company's stock.

Analyst Ratings Changes

MTB has been the subject of a number of research analyst reports. Piper Sandler cut 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. JPMorgan Chase & Co. lowered their target price 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. Jefferies Financial Group set a $225.00 price target on M&T Bank and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Barclays lowered their price target on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. Finally, Truist Financial reduced their price objective on M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $212.53.

M&T Bank Trading Down 1.4%

Shares of M&T Bank stock traded down $2.48 during trading hours on Wednesday, reaching $180.13. 953,543 shares of the company's stock were exchanged, compared to its average volume of 1,155,816. M&T Bank Co. has a 52-week low of $139.78 and a 52-week high of $225.70. The company has a fifty day moving average of $172.40 and a 200-day moving average of $187.29. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $28.91 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last released its 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). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the company posted $3.09 earnings per share. Sell-side analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued 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 dividend yield of 3.00%. M&T Bank's 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.