M&T Bank Co. (NYSE:MTB) Stock Holdings Lessened by MONECO Advisors LLC

MONECO Advisors LLC reduced its holdings in M&T Bank Co. (NYSE:MTB) by 18.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,057 shares of the financial services provider’s stock after selling 457 shares during the quarter. MONECO Advisors LLC’s holdings in M&T Bank were worth $387,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MTB. Raymond James & Associates lifted its position in shares of M&T Bank by 11.0% in the 3rd quarter. Raymond James & Associates now owns 66,209 shares of the financial services provider’s stock worth $11,793,000 after buying an additional 6,552 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of M&T Bank by 17,784.1% in the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after buying an additional 109,550 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of M&T Bank by 59.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 5,817 shares of the financial services provider’s stock worth $1,036,000 after buying an additional 2,169 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of M&T Bank by 8.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 35,549 shares of the financial services provider’s stock worth $6,332,000 after buying an additional 2,736 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of M&T Bank by 6.4% in the 3rd quarter. Ballentine Partners LLC now owns 1,732 shares of the financial services provider’s stock worth $309,000 after buying an additional 104 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Compass Point lifted their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Barclays lifted their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $221.68.

M&T Bank Stock Down 0.4 %

M&T Bank stock opened at $192.82 on Tuesday. The company’s 50-day moving average price is $194.95 and its two-hundred day moving average price is $190.51. The stock has a market cap of $31.69 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.38 and a beta of 0.79. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (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 period in the previous year, the company posted $2.74 EPS. On average, analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.80%. M&T Bank’s dividend payout ratio is currently 36.91%.

About M&T Bank

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.