Huntington National Bank Boosts Holdings in M&T Bank Co. (NYSE:MTB)

Huntington National Bank increased its position in shares of M&T Bank Co. (NYSE:MTB) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 387,498 shares of the financial services provider’s stock after buying an additional 73,384 shares during the quarter. Huntington National Bank’s holdings in M&T Bank were worth $72,853,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in M&T Bank during the 4th quarter worth approximately $317,690,000. State Street Corp boosted its holdings in shares of 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 position in shares of M&T Bank by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock valued at $994,522,000 after buying an additional 252,583 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in M&T Bank during the 3rd quarter worth $44,422,000. Finally, Amundi lifted its position in M&T Bank by 43.5% in the fourth quarter. Amundi now owns 807,339 shares of the financial services provider’s stock valued at $154,315,000 after acquiring an additional 244,709 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTB. Wells Fargo & Company dropped their price objective on M&T Bank from $205.00 to $185.00 and set an “underweight” rating on the stock in a report on Friday, March 28th. DA Davidson lifted their price target on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Compass Point increased their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley reduced their price target on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $218.79.

M&T Bank Trading Down 1.4 %

Shares of MTB stock opened at $176.31 on Wednesday. The firm’s 50 day moving average price is $188.64 and its two-hundred day moving average price is $192.95. The stock has a market cap of $28.97 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. 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 Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 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 business earned $2.74 earnings per share. On average, analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its Board of Directors has approved 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 repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s payout ratio is 36.91%.

About M&T Bank

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.