Foundations Investment Advisors LLC Purchases 183 Shares of M&T Bank Co. (NYSE:MTB)

Foundations Investment Advisors LLC grew its position in shares of M&T Bank Co. (NYSE:MTB) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,350 shares of the financial services provider’s stock after buying an additional 183 shares during the quarter. Foundations Investment Advisors LLC’s holdings in M&T Bank were worth $442,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MTB. Hedeker Wealth LLC increased its holdings in M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 55 shares during the period. Frank Rimerman Advisors LLC raised its holdings in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 57 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after buying an additional 57 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its position in shares of M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after buying an additional 69 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Price Performance

Shares of MTB opened at $202.18 on Friday. The firm has a market cap of $33.55 billion, a PE ratio of 13.82, a P/E/G ratio of 1.37 and a beta of 0.79. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. 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 firm has a fifty day simple moving average of $199.97 and a two-hundred day simple moving average of $186.38.

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

M&T Bank announced that its board has approved a share repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.67%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

Insider Buying and Selling at M&T Bank

In related news, 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 transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 1,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the sale, the director now owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. The trade was a 43.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,987 shares of company stock valued at $6,713,709. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of recent research reports. Barclays upped their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. DA Davidson raised their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Compass Point lifted their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial restated a “buy” rating and set a $236.00 price target (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Finally, Royal Bank of Canada upped their price target on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.