First Horizon Advisors Inc. Has $594,000 Holdings in M&T Bank Co. (NYSE:MTB)

First Horizon Advisors Inc. reduced its stake in shares of M&T Bank Co. (NYSE:MTB) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,160 shares of the financial services provider’s stock after selling 56 shares during the quarter. First Horizon Advisors Inc.’s holdings in M&T Bank were worth $594,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MTB. Plato Investment Management Ltd raised its stake in 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 purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of M&T Bank in the 3rd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of 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 valued at $37,000 after buying an additional 158 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of 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 valued at $39,000 after buying an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of M&T Bank in the 3rd quarter valued at $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MTB. The Goldman Sachs Group increased their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and increased their price objective for the company from $220.00 to $230.00 in a research note on Monday, November 25th. Wells Fargo & Company increased their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Barclays increased 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 note on Monday, January 6th. Finally, Truist Financial restated a “buy” rating and issued a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Down 0.4 %

Shares of NYSE:MTB opened at $192.82 on Tuesday. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The company’s 50-day moving average price is $194.95 and its two-hundred day moving average price is $190.51. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market cap of $31.69 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.38 and a beta of 0.79.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $2.74 EPS. As a group, research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

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

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

Insiders Place Their Bets

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction dated 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 approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

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.