Vest Financial LLC Has $32.54 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Vest Financial LLC boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 15.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 173,091 shares of the financial services provider’s stock after purchasing an additional 22,637 shares during the quarter. Vest Financial LLC owned 0.10% of M&T Bank worth $32,543,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd increased its position in shares of M&T Bank by 2,300.0% in 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 in the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank in the third quarter valued at about $32,000. Hexagon Capital Partners LLC increased its holdings in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Y.D. More Investments Ltd lifted its holdings in shares of M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $217.45, for a total value of $4,349,000.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $7,715,126. This represents a 36.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,397 shares of company stock valued at $6,379,459 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

M&T Bank Trading Down 0.7 %

Shares of NYSE:MTB opened at $200.59 on Friday. M&T Bank Co. has a 52-week low of $129.36 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. The company has a market capitalization of $33.28 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79. The company has a 50-day simple moving average of $197.49 and a 200 day simple moving average of $187.72.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (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 period in the previous year, the business earned $2.74 earnings per share. Sell-side analysts forecast that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank declared that its board has authorized a stock 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 a sign that the company’s board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.69%. M&T Bank’s dividend payout ratio is currently 36.91%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MTB shares. Royal Bank of Canada raised their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Evercore ISI raised their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price 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. DA Davidson lifted their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday. 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $221.68.

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.