M&T Bank Co. (NYSE:MTB) Stock Position Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,164 shares of the financial services provider’s stock after acquiring an additional 5,626 shares during the quarter. Handelsbanken Fonder AB’s holdings in M&T Bank were worth $6,987,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Plato Investment Management Ltd boosted its stake in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the third quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of 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 worth $37,000 after buying an additional 158 shares during the period. Y.D. More Investments Ltd boosted its position in shares of 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 buying an additional 114 shares during the period. Finally, Human Investing LLC acquired a new stake in shares of M&T Bank in the fourth quarter worth $44,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

NYSE MTB opened at $193.48 on Friday. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The stock’s 50-day moving average is $195.09 and its two-hundred day moving average is $190.08. 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 firm has a market cap of $31.80 billion, a P/E ratio of 13.23, a price-to-earnings-growth 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 for the quarter, beating 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 last year, the company earned $2.74 EPS. On average, analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

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

M&T Bank declared that its board has approved a share repurchase 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 purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTB. Piper Sandler raised their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and raised their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Barclays raised their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $221.68.

Insider Buying and Selling at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction dated 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 owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

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.