Hudson Edge Investment Partners Inc. Purchases 180 Shares of M&T Bank Co. (NYSE:MTB)

Hudson Edge Investment Partners Inc. increased its position in shares of M&T Bank Co. (NYSE:MTB) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,630 shares of the financial services provider’s stock after purchasing an additional 180 shares during the quarter. M&T Bank makes up approximately 1.2% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 17th biggest holding. Hudson Edge Investment Partners Inc.’s holdings in M&T Bank were worth $6,699,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its holdings in shares of M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares in the last quarter. Hedeker Wealth LLC grew its position in M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 55 shares during the last quarter. Catalina Capital Group LLC increased its holdings in M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 56 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 57 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its stake in M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 57 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MTB shares. Piper Sandler raised their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. DA Davidson upped their target price on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Compass Point raised their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Truist Financial restated a “buy” rating and issued a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $221.68.

M&T Bank Price Performance

Shares of MTB opened at $193.48 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market cap of $32.10 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79. The stock’s 50-day moving average price is $195.09 and its two-hundred day moving average price is $189.87. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 business posted $2.74 EPS. On average, equities analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

M&T Bank declared that its Board of Directors has authorized a share buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

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.