M&T Bank Co. (NYSE:MTB) Stock Holdings Decreased by IHT Wealth Management LLC

IHT Wealth Management LLC lessened its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 45.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,888 shares of the financial services provider's stock after selling 1,559 shares during the period. IHT Wealth Management LLC's holdings in M&T Bank were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MTB. Sanctuary Advisors LLC increased its holdings in M&T Bank by 0.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock valued at $3,195,000 after buying an additional 52 shares in the last quarter. Quadrant Capital Group LLC increased its stake in M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock valued at $183,000 after purchasing an additional 53 shares in the last quarter. Catalina Capital Group LLC raised its holdings in M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock worth $531,000 after purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC boosted its position in M&T Bank by 1.7% during the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after purchasing an additional 60 shares in the last quarter. Finally, Forum Financial Management LP increased its position in shares of M&T Bank by 2.2% in the fourth quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The shares were 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. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

MTB has been the topic of several recent research reports. Evercore ISI decreased their price objective on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company dropped their price objective on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research note on Tuesday, April 15th. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup dropped their price objective on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, M&T Bank currently has an average rating of "Hold" and a consensus price target of $208.24.

M&T Bank Trading Up 0.8 %

Shares of MTB traded up $1.32 during mid-day trading on Thursday, reaching $171.08. The company had a trading volume of 837,539 shares, compared to its average volume of 1,390,579. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The firm has a fifty day simple moving average of $172.18 and a 200-day simple moving average of $190.46. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. 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 announced its quarterly earnings results 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). The company had revenue of $2.31 billion during 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 last year, the business earned $3.09 EPS. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has initiated a stock buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.16%. M&T Bank's payout ratio is 36.17%.

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.