Inceptionr LLC Makes New Investment in M&T Bank Co. (NYSE:MTB)

Inceptionr LLC acquired a new position in M&T Bank Co. (NYSE:MTB) in the fourth quarter, Holdings Channel reports. The firm acquired 2,238 shares of the financial services provider’s stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in 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 valued at $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new position in M&T Bank in the 3rd quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the period. Y.D. More Investments Ltd raised its holdings 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 acquiring an additional 114 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of M&T Bank during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of several research reports. Compass Point boosted their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and boosted their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 price target (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. Finally, Piper Sandler boosted their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Up 0.9 %

Shares of MTB stock opened at $178.62 on Friday. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The firm has a fifty day moving average of $194.07 and a 200-day moving average of $191.77. The company has a market capitalization of $29.34 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 quarter in the previous year, the business earned $2.74 earnings per share. As a group, equities research analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a share repurchase 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 buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

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.