Umpqua Bank Has $327,000 Stake in M&T Bank Co. (NYSE:MTB)

Umpqua Bank raised its position in M&T Bank Co. (NYSE:MTB) by 11.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,678 shares of the financial services provider’s stock after purchasing an additional 168 shares during the period. Umpqua Bank’s holdings in M&T Bank were worth $327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its stake in shares of M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after purchasing an additional 1,508,846 shares during the period. State Street Corp raised its stake 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 purchasing an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 purchasing an additional 252,583 shares during the period. Geode Capital Management LLC raised its stake in shares of M&T Bank by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after purchasing an additional 66,337 shares during the period. Finally, Senvest Management LLC raised its stake in shares of M&T Bank by 12.3% in the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after purchasing an additional 96,500 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MTB. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. DA Davidson raised their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler raised their price objective on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Compass Point raised 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. Finally, Keefe, Bruyette & Woods lifted their price target on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $221.68.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 2.0 %

Shares of MTB opened at $193.48 on Friday. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The company has a market cap of $31.80 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.38 and a beta of 0.79. 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 firm has a 50 day simple moving average of $195.09 and a two-hundred day simple moving average of $190.08.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the company earned $2.74 earnings per share. Research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.79%. M&T Bank’s dividend payout ratio is currently 36.91%.

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

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.