Sanctuary Advisors LLC Boosts Holdings in M&T Bank Co. (NYSE:MTB)

Sanctuary Advisors LLC increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,819 shares of the financial services provider’s stock after buying an additional 52 shares during the period. Sanctuary Advisors LLC’s holdings in M&T Bank were worth $3,195,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Plato Investment Management Ltd boosted its stake 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 during the period. Ashton Thomas Securities LLC acquired a new stake in M&T Bank in the third quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in 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 worth $39,000 after acquiring an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the business’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 transaction, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 2.0 %

MTB opened at $193.48 on Friday. The business has a 50 day moving average price of $195.09 and a two-hundred day moving average price of $190.08. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The company has a market cap of $31.80 billion, a PE ratio of 13.23, a P/E/G ratio of 1.38 and a beta of 0.79. 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 (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate 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. As a group, research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Announces Dividend

The company also recently declared 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 of this dividend 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 (DPR) is 36.91%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Truist Financial reaffirmed 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. Barclays increased their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company boosted their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. Finally, Compass Point increased their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus 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.