M&T Bank Co. (NYSE:MTB) Holdings Lowered by Smith Moore & CO.

Smith Moore & CO. reduced its stake in M&T Bank Co. (NYSE:MTB) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,350 shares of the financial services provider’s stock after selling 94 shares during the period. Smith Moore & CO.’s holdings in M&T Bank were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Y.D. More Investments Ltd raised its holdings in 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 in the last quarter. Human Investing LLC acquired a new position in shares of M&T Bank during the 4th quarter valued at $44,000. Sierra Ocean LLC bought a new stake in shares of M&T Bank in the 4th quarter worth $44,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank in the fourth quarter valued at $52,000. Finally, Principal Securities Inc. boosted its stake 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 valued at $77,000 after buying an additional 132 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on MTB shares. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Evercore ISI dropped their target price on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company reduced their target price on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a report on Friday, March 28th. Truist Financial dropped their price target on M&T Bank from $236.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley cut 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. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $215.97.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

Shares of MTB opened at $157.13 on Friday. The business’s 50-day moving average is $186.82 and its 200-day moving average is $192.67. 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 company has a market capitalization of $25.82 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

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 analysts’ consensus estimates 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 firm earned $2.74 EPS. Equities research analysts expect 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 was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.44%. M&T Bank’s dividend payout ratio is 36.91%.

M&T Bank announced that its board has initiated a stock 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 generally an indication that the company’s management believes its shares are undervalued.

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.