M&T Bank Co. (NYSE:MTB) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its stake in M&T Bank Co. (NYSE:MTB) by 6.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,652 shares of the financial services provider’s stock after purchasing an additional 96 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in M&T Bank were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MTB. Y.D. More Investments Ltd increased its stake in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC purchased a new stake in M&T Bank in the 4th quarter valued at approximately $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank during the 4th quarter valued at $44,000. Loomis Sayles & Co. L P purchased a new position in M&T Bank during the fourth quarter worth $52,000. Finally, Principal Securities Inc. lifted its position in shares of M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank 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 sale, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Truist Financial lowered their price objective on M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company reduced their target price on M&T Bank from $205.00 to $185.00 and set an “underweight” rating on the stock in a research report on Friday, March 28th. Barclays lifted their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Citigroup cut their price objective on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. 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 company. According to data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $215.97.

M&T Bank Trading Down 3.8 %

Shares of MTB opened at $157.13 on Friday. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The stock’s 50-day moving average is $186.82 and its two-hundred day moving average is $192.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The stock has a market cap of $25.82 billion, a PE ratio of 10.74, a P/E/G ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 previous year, the firm posted $2.74 earnings per share. Equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

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

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.44%. The ex-dividend date was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.