M&T Bank Co. (NYSE:MTB) Shares Acquired by Howard Capital Management Inc.

Howard Capital Management Inc. raised its holdings in shares of M&T Bank Co. (NYSE:MTB) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,624 shares of the financial services provider’s stock after buying an additional 187 shares during the period. Howard Capital Management Inc.’s holdings in M&T Bank were worth $5,006,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MTB. Raymond James & Associates increased its position in shares of 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 worth $11,793,000 after purchasing an additional 6,552 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of M&T Bank by 14.8% during the third quarter. Foundations Investment Advisors LLC now owns 2,167 shares of the financial services provider’s stock valued at $386,000 after buying an additional 280 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of M&T Bank by 44.7% during the third quarter. Sequoia Financial Advisors LLC now owns 4,897 shares of the financial services provider’s stock valued at $872,000 after buying an additional 1,513 shares during the last quarter. Signaturefd LLC grew its holdings in shares of M&T Bank by 7.5% during the third quarter. Signaturefd LLC now owns 1,895 shares of the financial services provider’s stock valued at $338,000 after buying an additional 133 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of M&T Bank by 1.6% during the third quarter. Private Advisor Group LLC now owns 27,255 shares of the financial services provider’s stock valued at $4,855,000 after buying an additional 435 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’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 transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 2.0 %

MTB stock opened at $193.48 on Friday. The company’s 50-day simple moving average is $195.09 and its 200-day simple moving average is $190.08. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The firm has a market cap of $31.80 billion, a P/E ratio of 13.23, a PEG ratio of 1.38 and a beta of 0.79.

M&T Bank (NYSE:MTB) last posted its earnings results 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 last year, the company posted $2.74 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its board has authorized a stock repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are 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 dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, March 3rd. M&T Bank’s payout ratio is currently 36.91%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MTB. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Piper Sandler boosted their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. 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. Finally, Evercore ISI upped their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One equities 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Company 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.