M&T Bank Co. (NYSE:MTB) Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 389.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,757 shares of the financial services provider's stock after purchasing an additional 26,857 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in M&T Bank were worth $6,347,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MTB. Beck Mack & Oliver LLC lifted its position in shares of M&T Bank by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 21,298 shares of the financial services provider's stock worth $4,004,000 after purchasing an additional 100 shares during the last quarter. Curi RMB Capital LLC boosted its position in shares of M&T Bank by 43.3% during the 4th quarter. Curi RMB Capital LLC now owns 66,480 shares of the financial services provider's stock worth $12,499,000 after acquiring an additional 20,076 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of M&T Bank by 2.1% in the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock valued at $301,892,000 after acquiring an additional 33,017 shares during the last quarter. Forum Financial Management LP increased its holdings in shares of 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 valued at $540,000 after acquiring an additional 62 shares during the last quarter. Finally, Frederick Financial Consultants LLC purchased a new stake in M&T Bank during the fourth quarter worth approximately $223,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Price Performance

Shares of NYSE MTB traded down $2.27 during trading on Friday, hitting $166.89. 360,420 shares of the company were exchanged, compared to its average volume of 1,116,463. The firm's fifty day moving average price is $174.48 and its 200 day moving average price is $190.77. 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 company has a market cap of $27.42 billion, a price-to-earnings ratio of 11.42, a PEG 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.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the company posted $3.09 earnings per share. On average, sell-side analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has approved a stock repurchase plan 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 purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.24%. M&T Bank's payout ratio is 36.17%.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the 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 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 is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Barclays decreased their price objective on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. Truist Financial decreased their target price on M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley cut their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Wells Fargo & Company decreased their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" 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 assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $208.24.

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.