Commerzbank Aktiengesellschaft FI Makes New Investment in M&T Bank Co. (NYSE:MTB)

Commerzbank Aktiengesellschaft FI acquired a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 5,692 shares of the financial services provider’s stock, valued at approximately $1,074,000.

A number of other hedge funds also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd lifted its position in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new stake in M&T Bank during the 3rd quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the period. Y.D. More Investments Ltd raised its stake in shares of M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after buying an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of M&T Bank during the 3rd quarter worth approximately $44,000. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $181.36 on Wednesday. The business’s fifty day moving average price is $194.82 and its two-hundred day moving average price is $191.66. The stock has a market cap of $29.80 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. 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 one year low of $133.03 and a one year high of $225.70.

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 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 quarter in the previous year, the firm posted $2.74 EPS. On average, analysts forecast that M&T Bank Co. will post 16.57 EPS 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 buy up to 12.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and set a $236.00 target price (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. DA Davidson increased their target price on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Compass Point increased their target price on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $221.68.

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