Commonwealth Equity Services LLC Has $13.45 Million Position in M&T Bank Co. (NYSE:MTB)

Commonwealth Equity Services LLC grew its holdings in M&T Bank Co. (NYSE:MTB) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 71,555 shares of the financial services provider’s stock after acquiring an additional 121 shares during the period. Commonwealth Equity Services LLC’s holdings in M&T Bank were worth $13,453,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTB. Y.D. More Investments Ltd boosted its stake in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC acquired a new position in M&T Bank in the fourth quarter worth $44,000. Sierra Ocean LLC acquired a new position in M&T Bank in the fourth quarter worth $44,000. Principal Securities Inc. boosted its stake in M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 132 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in M&T Bank in the third quarter worth $91,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Down 0.3 %

Shares of M&T Bank stock opened at $174.82 on Wednesday. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The business has a 50-day moving average of $191.75 and a two-hundred day moving average of $192.21. The company has a market capitalization of $28.72 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly 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 prior year, the company earned $2.74 earnings per share. As a group, equities analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.09%. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

M&T Bank declared that its board has initiated a share buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

MTB has been the topic of a number of recent analyst reports. Piper Sandler boosted 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Barclays upped their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. DA Davidson upped their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and upped their price target for the company from $220.00 to $230.00 in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $222.03.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

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.