Fuller & Thaler Asset Management Inc. Acquires 1,831 Shares of M&T Bank Co. (NYSE:MTB)

Fuller & Thaler Asset Management Inc. lifted its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,818 shares of the financial services provider's stock after purchasing an additional 1,831 shares during the period. Fuller & Thaler Asset Management Inc.'s holdings in M&T Bank were worth $6,358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. Barclays PLC boosted its position in shares of 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 purchasing an additional 61,375 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of M&T Bank by 80.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 13,901 shares of the financial services provider's stock worth $2,476,000 after purchasing an additional 6,205 shares during the period. Franklin Resources Inc. lifted its holdings in shares of 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 valued at $3,986,000 after purchasing an additional 6,717 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of M&T Bank in the 3rd quarter valued at approximately $1,834,000. Finally, Principal Financial Group Inc. increased its stake in M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider's stock worth $35,466,000 after purchasing an additional 2,797 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

MTB traded up $1.24 during trading on Thursday, hitting $171.00. The stock had a trading volume of 262,178 shares, compared to its average volume of 1,118,470. The company has a 50 day moving average price of $172.18 and a 200-day moving average price of $190.46. The firm has a market cap of $28.09 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a one year low of $139.78 and a one year 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.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $3.09 earnings per share. As a group, research analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its board has authorized a share repurchase plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 3.16%. M&T Bank's payout ratio is 36.17%.

Insider Activity

In other news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MTB. Truist Financial reduced their price target on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Evercore ISI lowered their target price 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. Barclays reduced their price objective on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 15th. DA Davidson dropped their target price on 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, Robert W. Baird reduced their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $208.24.

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.