Tredje AP fonden Has $1.52 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Tredje AP fonden reduced its position in M&T Bank Co. (NYSE:MTB) by 50.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,063 shares of the financial services provider’s stock after selling 8,062 shares during the quarter. Tredje AP fonden’s holdings in M&T Bank were worth $1,516,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MTB. Plato Investment Management Ltd increased its position in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank in the 3rd quarter worth about $32,000. Y.D. More Investments Ltd increased its position in M&T Bank by 122.6% in the 4th 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 during the last quarter. Human Investing LLC acquired a new position in M&T Bank in the 4th quarter worth about $44,000. Finally, Sierra Ocean LLC acquired a new position in M&T Bank in the 4th quarter worth about $44,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTB has been the topic of several research reports. Compass Point upped their target price on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Truist Financial reissued a “buy” rating and set a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Wells Fargo & Company increased their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley lowered their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $222.03.

Insider Activity at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

M&T Bank Trading Up 3.1 %

Shares of MTB opened at $175.69 on Friday. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $192.44 and a 200-day simple moving average of $191.83. The stock has a market cap of $28.86 billion, a PE ratio of 12.01, a PEG ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $2.74 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 16.57 EPS 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. Investors of record on Monday, March 3rd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.07%. M&T Bank’s dividend payout ratio is 36.91%.

M&T Bank announced that its board has approved a stock buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.