Ossiam Increases Stock Holdings in M&T Bank Co. (NYSE:MTB)

Ossiam increased its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 177.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,877 shares of the financial services provider's stock after acquiring an additional 11,443 shares during the quarter. Ossiam's holdings in M&T Bank were worth $3,361,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC grew its position in shares of M&T Bank by 14.3% during the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after purchasing an additional 1,761,014 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in M&T Bank by 5.0% during 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 last quarter. Geode Capital Management LLC grew its holdings in M&T Bank by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock valued at $819,768,000 after buying an additional 40,948 shares in the last quarter. Norges Bank bought a new stake in M&T Bank in the 4th quarter worth approximately $317,690,000. Finally, First Trust Advisors LP raised its holdings in shares of M&T Bank by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock worth $301,892,000 after acquiring an additional 33,017 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by company insiders.

M&T Bank Stock Down 1.3 %

Shares of MTB stock traded down $2.27 during mid-day trading on Friday, hitting $166.89. The stock had a trading volume of 360,420 shares, compared to its average volume of 1,116,463. M&T Bank Co. has a 12-month low of $139.78 and a 12-month high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm's 50-day moving average is $174.48 and its two-hundred day moving average is $190.77. The firm has a market capitalization of $27.42 billion, a P/E ratio of 11.42, 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 quarterly earnings data 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 return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the company earned $3.09 earnings per share. On average, analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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 $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is 36.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MTB shares. Citigroup reduced their price target on shares of 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. Barclays decreased their target price on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 15th. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Royal Bank of Canada lowered their price objective on M&T Bank from $208.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler cut their target price on M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of "Hold" and an average price target of $208.24.

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.