Beacon Pointe Advisors LLC Has $261,000 Stake in M&T Bank Co. (NYSE:MTB)

Beacon Pointe Advisors LLC trimmed its position in M&T Bank Co. (NYSE:MTB - Free Report) by 68.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,386 shares of the financial services provider's stock after selling 3,005 shares during the quarter. Beacon Pointe Advisors LLC's holdings in M&T Bank were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MTB. FMR LLC raised its holdings in shares of M&T Bank by 14.3% in the 4th 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 during the period. Norges Bank bought a new position in M&T Bank in the 4th quarter valued at about $317,690,000. Charles Schwab Investment Management Inc. raised its holdings in M&T Bank by 5.0% in the 4th 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 acquiring an additional 252,583 shares during the period. Amundi raised its holdings in M&T Bank by 43.5% in the 4th quarter. Amundi now owns 807,339 shares of the financial services provider's stock valued at $154,315,000 after acquiring an additional 244,709 shares during the period. Finally, LGT Capital Partners LTD. bought a new position in M&T Bank in the 4th quarter valued at about $34,803,000. 84.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MTB. Barclays lowered their price target 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. Truist Financial lowered their price target on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Piper Sandler lowered their price target on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley lowered their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Robert W. Baird lowered their target price on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, M&T Bank presently has an average rating of "Hold" and an average price target of $208.24.

M&T Bank Price Performance

Shares of NYSE MTB traded down $0.45 during mid-day trading on Friday, hitting $177.11. 872,893 shares of the stock traded hands, compared to its average volume of 1,127,970. 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 Co. has a twelve month low of $139.78 and a twelve month high of $225.70. The company has a market cap of $29.10 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The firm has a 50 day simple moving average of $170.16 and a two-hundred day simple moving average of $189.56.

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 the consensus estimate of $3.41 by ($0.03). The firm 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 period last year, the business earned $3.09 EPS. As a group, equities research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a yield of 3.05%. M&T Bank's payout ratio is 36.17%.

M&T Bank declared that its board has initiated a stock repurchase plan 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 buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

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.