Cozad Asset Management Inc. Sells 379 Shares of M&T Bank Co. (NYSE:MTB)

Cozad Asset Management Inc. reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,866 shares of the financial services provider’s stock after selling 379 shares during the quarter. Cozad Asset Management Inc.’s holdings in M&T Bank were worth $1,667,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Signaturefd LLC grew its stake in shares of M&T Bank by 5.0% during the 4th quarter. Signaturefd LLC now owns 1,989 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 94 shares during the period. Parallel Advisors LLC grew its stake in shares of M&T Bank by 1.7% during the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after purchasing an additional 60 shares during the period. SouthState Corp grew its stake in shares of M&T Bank by 4.8% during the 4th quarter. SouthState Corp now owns 6,436 shares of the financial services provider’s stock valued at $1,210,000 after purchasing an additional 297 shares during the period. GWN Securities Inc. bought a new stake in shares of M&T Bank during the 4th quarter valued at about $773,000. Finally, Glenview Trust co grew its stake in shares of M&T Bank by 7.1% during the 4th quarter. Glenview Trust co now owns 4,336 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 286 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Up 0.0 %

Shares of MTB opened at $175.61 on Tuesday. The company has a market cap of $28.85 billion, a PE ratio of 12.00, a P/E/G ratio of 1.38 and a beta of 0.74. The business has a fifty day moving average of $192.09 and a 200 day moving average of $192.19. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned $2.74 earnings per share. On average, sell-side analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its board has authorized a share repurchase 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.07%. M&T Bank’s dividend payout ratio is presently 36.91%.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on MTB. Compass Point increased their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their target price on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Evercore ISI reduced their target price on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods increased their target price on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley reduced their target price on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $222.03.

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.