Sheaff Brock Investment Advisors LLC Has $975,000 Position in M&T Bank Co. (NYSE:MTB)

Sheaff Brock Investment Advisors LLC increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,188 shares of the financial services provider’s stock after acquiring an additional 63 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in M&T Bank were worth $975,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC grew its holdings in M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after buying an additional 1,508,846 shares in the last quarter. State Street Corp grew its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after buying an additional 190,837 shares in the last quarter. Geode Capital Management LLC grew its holdings in M&T Bank by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after buying an additional 66,337 shares in the last quarter. Finally, Senvest Management LLC grew its holdings in shares of M&T Bank by 12.3% during the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock worth $157,252,000 after purchasing an additional 96,500 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Trading Up 0.8 %

NYSE MTB opened at $198.75 on Monday. The company has a market cap of $32.98 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The business has a 50 day moving average price of $195.59 and a 200-day moving average price of $188.90. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating 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 quarter in the prior year, the business earned $2.74 earnings per share. As a group, equities analysts expect that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank declared that its board has authorized a stock buyback program 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 buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 annualized dividend and a dividend yield of 2.72%. M&T Bank’s payout ratio is 36.91%.

Insider Activity at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Barnes sold 20,000 shares of M&T Bank 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 transaction, the director now directly owns 35,480 shares in the company, valued at approximately $7,715,126. The trade was a 36.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,611 shares of company stock valued at $5,354,777 over the last 90 days. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

MTB has been the topic of several analyst reports. DA Davidson increased their target price on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Truist Financial reissued a “buy” rating and set a $236.00 target price (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Barclays increased their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group increased their target price on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $221.68.

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.