BankPlus Trust Department Takes $100,000 Position in M&T Bank Co. (NYSE:MTB)

BankPlus Trust Department bought a new stake in M&T Bank Co. (NYSE:MTB) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 530 shares of the financial services provider’s stock, valued at approximately $100,000.

Several other institutional investors also recently modified their holdings of MTB. Raymond James & Associates grew its holdings in M&T Bank by 11.0% during the third quarter. Raymond James & Associates now owns 66,209 shares of the financial services provider’s stock valued at $11,793,000 after purchasing an additional 6,552 shares during the period. International Assets Investment Management LLC grew its holdings in M&T Bank by 17,784.1% during the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after purchasing an additional 109,550 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in M&T Bank by 59.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,817 shares of the financial services provider’s stock valued at $1,036,000 after purchasing an additional 2,169 shares during the period. Assenagon Asset Management S.A. grew its holdings in M&T Bank by 8.3% during the third quarter. Assenagon Asset Management S.A. now owns 35,549 shares of the financial services provider’s stock valued at $6,332,000 after purchasing an additional 2,736 shares during the period. Finally, Ballentine Partners LLC grew its holdings in M&T Bank by 6.4% during the third quarter. Ballentine Partners LLC now owns 1,732 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 104 shares during the period. 84.68% of the stock is owned by institutional investors.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 in the company, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 0.4 %

Shares of MTB stock opened at $192.82 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a market capitalization of $31.69 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. The business’s fifty day moving average is $194.95 and its 200 day moving average is $190.51.

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

M&T Bank announced that its board has authorized a share buyback plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently declared 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 of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.80%. M&T Bank’s payout ratio is 36.91%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MTB shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Truist Financial reissued a “buy” rating and set a $236.00 price objective (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. The Goldman Sachs Group raised their price target on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Evercore ISI raised their price target on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $221.68.

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.