Dimensional Fund Advisors LP Has $300.56 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Dimensional Fund Advisors LP trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,598,557 shares of the financial services provider's stock after selling 18,182 shares during the period. Dimensional Fund Advisors LP owned 0.96% of M&T Bank worth $300,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in M&T Bank by 11.9% in the 3rd quarter. Barclays PLC now owns 578,266 shares of the financial services provider's stock worth $102,999,000 after acquiring an additional 61,375 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in M&T Bank by 80.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 13,901 shares of the financial services provider's stock valued at $2,476,000 after purchasing an additional 6,205 shares in the last quarter. Franklin Resources Inc. increased its stake in M&T Bank by 45.5% during the 3rd quarter. Franklin Resources Inc. now owns 21,481 shares of the financial services provider's stock worth $3,986,000 after buying an additional 6,717 shares during the period. Oddo BHF Asset Management Sas acquired a new position in M&T Bank in the 3rd quarter worth $1,834,000. Finally, Principal Financial Group Inc. boosted its position in M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider's stock valued at $35,466,000 after buying an additional 2,797 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTB has been the subject of a number of analyst reports. Evercore ISI reduced their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Morgan Stanley reduced their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Truist Financial decreased their price target on M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $208.24.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company's stock.

M&T Bank Price Performance

MTB traded down $1.72 on Friday, reaching $167.44. The company had a trading volume of 829,177 shares, compared to its average volume of 1,118,906. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70. The company has a market capitalization of $27.51 billion, a P/E ratio of 11.44, a PEG ratio of 1.38 and a beta of 0.58. The company has a fifty day moving average of $173.82 and a 200-day moving average of $190.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

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 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion for 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 in the prior year, the business earned $3.09 EPS. As a group, equities research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.23%. M&T Bank's dividend payout ratio (DPR) is 36.17%.

M&T Bank declared that its board has initiated a stock buyback program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically 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.