Natixis Advisors LLC Sells 20,157 Shares of M&T Bank Co. (NYSE:MTB)

Natixis Advisors LLC trimmed its position in M&T Bank Co. (NYSE:MTB) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 175,722 shares of the financial services provider’s stock after selling 20,157 shares during the quarter. Natixis Advisors LLC’s holdings in M&T Bank were worth $33,037,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Catalyst Funds Management Pty Ltd bought a new stake in shares of M&T Bank in the fourth quarter valued at about $207,000. Picton Mahoney Asset Management lifted its holdings in shares of M&T Bank by 156.4% in the fourth quarter. Picton Mahoney Asset Management now owns 64,528 shares of the financial services provider’s stock valued at $12,132,000 after purchasing an additional 39,359 shares in the last quarter. Wellington Shields & Co. LLC lifted its holdings in shares of M&T Bank by 5.2% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,966 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 98 shares in the last quarter. PGGM Investments bought a new stake in shares of M&T Bank in the fourth quarter valued at about $1,313,000. Finally, Essential Planning LLC. bought a new stake in shares of M&T Bank in the fourth quarter valued at about $9,459,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Trading Up 3.1 %

Shares of NYSE:MTB opened at $175.69 on Monday. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The stock has a market cap of $28.86 billion, a PE ratio of 12.01, a P/E/G ratio of 1.38 and a beta of 0.74. The business has a 50 day moving average of $192.44 and a 200-day moving average of $192.15. 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 issued its quarterly earnings data 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 quarter in the previous year, the firm earned $2.74 earnings per share. As a group, equities research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

M&T Bank announced 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 purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley cut their price target on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a report on Thursday. Piper Sandler lifted their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Compass Point lifted their target price on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lifted their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $222.03.

Insider Activity at M&T Bank

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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.

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.