Robinson Value Management Ltd. Has $4.72 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Robinson Value Management Ltd. decreased its stake in shares of M&T Bank Co. (NYSE:MTB) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 25,103 shares of the financial services provider’s stock after selling 1,345 shares during the quarter. M&T Bank makes up about 3.1% of Robinson Value Management Ltd.’s investment portfolio, making the stock its 3rd largest position. Robinson Value Management Ltd.’s holdings in M&T Bank were worth $4,720,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MTB. FMR LLC increased its stake in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after purchasing an additional 1,508,846 shares in the last quarter. State Street Corp increased its stake in M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after purchasing an additional 527,854 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in M&T Bank during the 3rd quarter valued at approximately $44,422,000. Charles Schwab Investment Management Inc. increased its stake in M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after purchasing an additional 190,837 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in M&T Bank by 30.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 599,995 shares of the financial services provider’s stock valued at $106,871,000 after purchasing an additional 141,337 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael J. Todaro sold 4,786 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the completion of the transaction, the executive vice president now owns 2,787 shares of the company’s stock, valued at $596,696.70. This trade represents a 63.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,397 shares of company stock valued at $6,379,459 over the last ninety days. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $200.59 on Friday. The company’s 50-day moving average price is $197.10 and its 200-day moving average price is $187.93. 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 company has a market cap of $33.28 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a twelve month low of $129.36 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results 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 period in the prior year, the company earned $2.74 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTB. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday. Truist Financial reissued a “buy” rating and set a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Bank of America raised their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company raised their target price on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.