Atria Wealth Solutions Inc. Cuts Holdings in M&T Bank Co. (NYSE:MTB)

Atria Wealth Solutions Inc. trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,667 shares of the financial services provider’s stock after selling 603 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in M&T Bank were worth $2,005,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Sanctuary Advisors LLC increased its holdings in M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,195,000 after buying an additional 52 shares during the period. Hedeker Wealth LLC lifted its stake in shares of M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after buying an additional 55 shares during the period. Catalina Capital Group LLC lifted its stake in shares of M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after buying an additional 56 shares during the period. Frank Rimerman Advisors LLC lifted its stake in shares of M&T Bank by 1.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 57 shares during the period. Finally, Crestwood Advisors Group LLC lifted its stake in shares of 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 worth $553,000 after buying an additional 57 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Piper Sandler lifted their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their target price on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and boosted their target price for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Evercore ISI boosted their target price on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $221.68.

Insider Transactions at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 2.0 %

MTB stock opened at $193.48 on Friday. The stock has a market capitalization of $31.80 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.38 and a beta of 0.79. The firm has a 50-day simple moving average of $195.09 and a 200-day simple moving average of $190.08. 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 Co. has a 52 week low of $133.03 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last released its earnings results 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 in the previous year, the company earned $2.74 earnings per share. Equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank declared that its board has authorized a share repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.