M&T Bank Co. (NYSE:MTB) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,851 shares of the financial services provider’s stock after selling 1,003 shares during the period. Lee Danner & Bass Inc.’s holdings in M&T Bank were worth $4,108,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC grew its holdings in 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 acquiring an additional 52 shares during the period. Catalina Capital Group LLC grew its holdings in M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 56 shares during the period. Parallel Advisors LLC grew its holdings in M&T Bank by 1.7% during the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock worth $660,000 after acquiring an additional 60 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in M&T Bank by 1.2% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 63 shares during the period. Finally, Meridian Wealth Management LLC grew its holdings in M&T Bank by 3.8% during the fourth quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 66 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Stock Down 0.1 %

Shares of M&T Bank stock opened at $176.93 on Friday. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.38 and a beta of 0.74. 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 Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The stock has a 50-day simple moving average of $191.19 and a 200-day simple moving average of $192.00.

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

M&T Bank announced that its board has authorized a stock 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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 dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.05%. M&T Bank’s dividend payout ratio is 36.91%.

Wall Street Analyst Weigh In

MTB has been the topic of a number of analyst reports. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Morgan Stanley dropped their price target on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lifted their price target on 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. Truist Financial reissued a “buy” rating and issued a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Finally, 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. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $222.03.

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.