M&T Bank Co. (NYSE:MTB) Shares Purchased by Argent Trust Co

Argent Trust Co boosted its stake in M&T Bank Co. (NYSE:MTB) by 28.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,956 shares of the financial services provider’s stock after acquiring an additional 439 shares during the period. Argent Trust Co’s holdings in M&T Bank were worth $368,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. grew its holdings in shares of M&T Bank by 34.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after buying an additional 2,018 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 1,295 shares during the period. US Bancorp DE raised its holdings in M&T Bank by 24.3% in the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock valued at $1,576,000 after acquiring an additional 1,639 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in shares of M&T Bank during the 4th quarter worth $290,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of M&T Bank during the 4th quarter worth $297,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity

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. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MTB shares. Morgan Stanley dropped their target price on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. DA Davidson lifted their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. JPMorgan Chase & Co. cut their price objective on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Truist Financial lowered their target price on shares of M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 4th. Finally, Barclays increased their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average price target of $215.97.

M&T Bank Trading Down 0.0 %

NYSE:MTB opened at $157.82 on Friday. The business’s 50-day moving average is $181.27 and its two-hundred day moving average is $191.77. The firm has a market capitalization of $25.93 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 12 month low of $133.08 and a 12 month high of $225.70. 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 earnings results 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 company posted $2.74 EPS. Research analysts predict 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.42%. M&T Bank’s payout ratio is currently 36.91%.

M&T Bank 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.