M&T Bank Co. (NYSE:MTB) Position Reduced by National Wealth Management Group LLC

National Wealth Management Group LLC reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,712 shares of the financial services provider’s stock after selling 258 shares during the quarter. National Wealth Management Group LLC’s holdings in M&T Bank were worth $510,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MTB. Y.D. More Investments Ltd raised its position in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC acquired a new stake in M&T Bank during the 4th quarter worth about $44,000. Sierra Ocean LLC purchased a new position in M&T Bank during the 4th quarter valued at about $44,000. Loomis Sayles & Co. L P acquired a new position in shares of M&T Bank in the 4th quarter valued at about $52,000. Finally, Principal Securities Inc. lifted its position in shares of M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 132 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Trading Up 2.1 %

Shares of M&T Bank stock opened at $178.94 on Tuesday. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The company’s fifty day simple moving average is $189.08 and its 200-day simple moving average is $192.90. The company has a market cap of $29.40 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.38 and a beta of 0.74. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping 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 business posted $2.74 EPS. As a group, sell-side analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Monday, March 3rd. M&T Bank’s dividend payout ratio is presently 36.91%.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Truist Financial reaffirmed a “buy” rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Morgan Stanley reduced their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods upped their target price on 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. Finally, 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average target price of $218.79.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.

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.