MML Investors Services LLC Has $2.15 Million Stake in M&T Bank Co. (NYSE:MTB)

MML Investors Services LLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 66.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,427 shares of the financial services provider's stock after acquiring an additional 4,575 shares during the quarter. MML Investors Services LLC's holdings in M&T Bank were worth $2,148,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd raised its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC acquired a new position in M&T Bank during the 4th quarter worth $44,000. Sierra Ocean LLC bought a new stake in M&T Bank during the fourth quarter valued at about $44,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank in the fourth quarter valued at about $52,000. Finally, Principal Securities Inc. increased its stake in shares of M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after purchasing an additional 132 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped 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. Piper Sandler reduced 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. DA Davidson decreased their price target on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Barclays dropped their price objective on shares of 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, M&T Bank currently has a consensus rating of "Hold" and a consensus target price of $208.24.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company's stock, 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 through this hyperlink. Corporate insiders own 0.53% of the company's stock.

M&T Bank Price Performance

NYSE MTB traded up $4.42 on Friday, hitting $175.28. 854,217 shares of the company were exchanged, compared to its average volume of 1,121,049. 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 company has a market cap of $28.80 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 1-year low of $139.78 and a 1-year high of $225.70. The firm has a 50 day moving average of $171.74 and a two-hundred day moving average of $190.36.

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 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $3.09 EPS. On average, equities analysts predict that M&T Bank Co. 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, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.08%. The ex-dividend date was Monday, March 3rd. M&T Bank's payout ratio is presently 36.17%.

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

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.