Mufg Securities Americas Inc. Buys Shares of 2,749 M&T Bank Co. (NYSE:MTB)

Mufg Securities Americas Inc. purchased a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,749 shares of the financial services provider's stock, valued at approximately $517,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. Sanctuary Advisors LLC lifted its stake in shares of M&T Bank by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock valued at $3,195,000 after purchasing an additional 52 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of 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 acquiring an additional 53 shares during the period. Catalina Capital Group LLC boosted its position in shares of M&T Bank by 2.0% during the 4th 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 period. Parallel Advisors LLC grew its stake in shares of M&T Bank by 1.7% in the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock valued at $660,000 after buying an additional 60 shares in the last quarter. Finally, Forum Financial Management LP raised 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 buying an additional 62 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Price Performance

MTB stock traded down $0.44 on Monday, hitting $187.29. 956,990 shares of the company's stock traded hands, compared to its average volume of 1,136,115. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market cap of $30.06 billion, a price-to-earnings ratio of 12.80, a P/E/G 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. The stock has a fifty day moving average of $171.22 and a 200-day moving average of $189.23.

M&T Bank (NYSE:MTB - Get Free Report) last announced its 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). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm earned $3.09 earnings per share. On average, analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a share 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.88%. M&T Bank's dividend payout ratio is presently 36.17%.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cowen assumed coverage on M&T Bank in a research note on Wednesday. They issued a "buy" rating for the company. Truist Financial decreased their price target on M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Robert W. Baird dropped their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research note on Thursday, April 24th. Finally, Citigroup dropped their target price 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.33.

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.