NEOS Investment Management LLC Grows Position in M&T Bank Co. (NYSE:MTB)

NEOS Investment Management LLC grew its stake in M&T Bank Co. (NYSE:MTB) by 25.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,075 shares of the financial services provider’s stock after acquiring an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in M&T Bank were worth $1,142,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Y.D. More Investments Ltd lifted its holdings 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 acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Sierra Ocean LLC purchased a new position in shares of M&T Bank during the fourth quarter valued at approximately $44,000. Principal Securities Inc. boosted its position in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 132 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in M&T Bank in the 4th quarter worth approximately $92,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Trading Down 2.5 %

NYSE:MTB opened at $175.21 on Friday. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The business’s 50-day moving average is $189.44 and its two-hundred day moving average is $192.62. 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 market capitalization of $28.78 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping 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 last year, the firm 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 declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.08%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MTB shares. Citigroup decreased their price objective on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Morgan Stanley cut their price objective on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Compass Point raised their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus target price of $218.79.

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