VAUGHAN & Co SECURITIES INC. Sells 298 Shares of M&T Bank Co. (NYSE:MTB)

VAUGHAN & Co SECURITIES INC. lowered its position in M&T Bank Co. (NYSE:MTB) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,739 shares of the financial services provider’s stock after selling 298 shares during the period. VAUGHAN & Co SECURITIES INC.’s holdings in M&T Bank were worth $703,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MTB. Plato Investment Management Ltd boosted its holdings in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in M&T Bank during the 3rd quarter worth $32,000. Hexagon Capital Partners LLC lifted its stake in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted 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 buying an additional 114 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael J. Todaro sold 4,786 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the transaction, the executive vice president now owns 2,787 shares of the company’s stock, valued at $596,696.70. This trade represents a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,397 shares of company stock valued at $6,379,459 in the last ninety days. 0.82% of the stock is currently owned by company insiders.

M&T Bank Stock Up 0.4 %

MTB stock opened at $198.67 on Thursday. The business’s 50 day simple moving average is $198.31 and its 200 day simple moving average is $187.54. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The firm has a market capitalization of $32.96 billion, a PE ratio of 13.58, a PEG ratio of 1.41 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

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 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 last year, the business earned $2.74 EPS. As a group, research analysts anticipate that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank announced that its board has approved a stock repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.72%. M&T Bank’s payout ratio is 36.91%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Truist Financial reissued 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. Royal Bank of Canada raised their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus target price of $221.68.

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