M&T Bank Co. (NYSE:MTB) Shares Sold by Community Bank N.A.

Community Bank N.A. cut its holdings in shares of M&T Bank Co. (NYSE:MTB) by 18.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,735 shares of the financial services provider’s stock after selling 400 shares during the period. Community Bank N.A.’s holdings in M&T Bank were worth $326,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MTB. Y.D. More Investments Ltd grew its stake in M&T Bank by 122.6% in 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 M&T Bank in the fourth quarter worth about $44,000. Sierra Ocean LLC acquired a new position in M&T Bank in the fourth quarter worth about $44,000. Principal Securities Inc. grew its stake in 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. Finally, Brooklyn Investment Group acquired a new position in M&T Bank in the third quarter worth about $91,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $178.19 on Monday. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The stock has a market cap of $29.27 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.38 and a beta of 0.74. The stock’s 50 day moving average price is $190.99 and its 200 day moving average price is $192.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

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, 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 in the previous year, the business earned $2.74 EPS. Equities research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.03%. M&T Bank’s dividend payout ratio (DPR) is 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 outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Compass Point lifted their price target 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. DA Davidson lifted their target price on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Truist Financial restated a “buy” rating and issued a $236.00 target price (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Morgan Stanley decreased their target price on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods lifted their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $222.03.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred 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 transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

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