Silver Oak Securities Incorporated Boosts Stake in M&T Bank Co. (NYSE:MTB)

Silver Oak Securities Incorporated lifted its holdings in M&T Bank Co. (NYSE:MTB) by 246.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,385 shares of the financial services provider’s stock after buying an additional 2,407 shares during the period. Silver Oak Securities Incorporated’s holdings in M&T Bank were worth $638,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MTB. Czech National Bank grew its stake in M&T Bank by 7.0% in the 3rd quarter. Czech National Bank now owns 34,019 shares of the financial services provider’s stock valued at $6,059,000 after purchasing an additional 2,224 shares during the period. Mather Group LLC. grew its position in M&T Bank by 5.0% during the third quarter. Mather Group LLC. now owns 2,599 shares of the financial services provider’s stock valued at $463,000 after buying an additional 123 shares during the period. Atomi Financial Group Inc. purchased a new stake in M&T Bank during the third quarter worth about $252,000. CWM LLC raised its position in M&T Bank by 9.1% in the third quarter. CWM LLC now owns 6,107 shares of the financial services provider’s stock worth $1,088,000 after acquiring an additional 511 shares during the period. Finally, Hexagon Capital Partners LLC boosted its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Down 0.7 %

Shares of MTB stock opened at $200.59 on Friday. The company has a market capitalization of $33.28 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79. M&T Bank Co. has a 52-week low of $129.36 and a 52-week high of $225.70. The business’s fifty day moving average is $197.49 and its 200 day moving average is $187.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $2.74 earnings per share. On average, equities research analysts anticipate that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a share buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding 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 a sign that the company’s board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s payout ratio is 36.91%.

Insider Activity

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at $7,715,126. This represents a 36.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,397 shares of company stock worth $6,379,459. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MTB has been the subject of several research analyst reports. The Goldman Sachs Group raised their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Barclays boosted their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Piper Sandler increased their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $221.68.

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.