Sapient Capital LLC Increases Stock Position in M&T Bank Co. (NYSE:MTB)

Sapient Capital LLC increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 9,754.9% in the 4th quarter, Holdings Channel reports. The firm owned 184,287 shares of the financial services provider’s stock after buying an additional 182,417 shares during the period. Sapient Capital LLC’s holdings in M&T Bank were worth $34,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTB. Hedeker Wealth LLC raised its stake in M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after buying an additional 55 shares during the last quarter. Catalina Capital Group LLC increased its position 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 valued at $531,000 after acquiring an additional 56 shares during the last quarter. Frank Rimerman Advisors LLC lifted its holdings in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after acquiring an additional 57 shares during the period. Crestwood Advisors Group LLC boosted its position in M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 57 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its stake in shares of M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 69 shares during the period. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Piper Sandler upped their price objective on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Compass Point upped their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average target price of $221.68.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $197.56 on Tuesday. The company has a market cap of $32.78 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a 52-week low of $130.84 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. The firm’s fifty day moving average is $197.10 and its two-hundred day moving average is $188.15.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the previous year, the business earned $2.74 EPS. As a group, analysts anticipate that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.73%. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank announced that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total value of $4,349,000.00. Following the completion of the sale, the director now directly owns 35,480 shares of the company’s stock, valued at $7,715,126. The trade was a 36.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,611 shares of company stock valued at $5,354,777. 0.82% of the stock is owned by corporate insiders.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.