GWN Securities Inc. Invests $773,000 in M&T Bank Co. (NYSE:MTB)

GWN Securities Inc. acquired a new position in shares of M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,886 shares of the financial services provider’s stock, valued at approximately $773,000.

Several other institutional investors also recently modified their holdings of MTB. Apollon Wealth Management LLC grew its holdings in shares of M&T Bank by 21.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,678 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 467 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of M&T Bank by 5.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 2,072 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 114 shares in the last quarter. Plato Investment Management Ltd grew its holdings in shares of 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 worth $30,000 after purchasing an additional 161 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of M&T Bank by 4.2% during the 3rd quarter. Metis Global Partners LLC now owns 6,822 shares of the financial services provider’s stock worth $1,215,000 after purchasing an additional 278 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of M&T Bank by 7.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,279 shares of the financial services provider’s stock worth $762,000 after buying an additional 280 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MTB shares. The Goldman Sachs Group raised their target price on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods lifted their price objective on 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. Truist Financial reiterated a “buy” rating and issued a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Finally, Evercore ISI dropped their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday. 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 data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $222.03.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Stock Performance

MTB opened at $175.69 on Friday. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The firm has a market capitalization of $28.86 billion, a PE ratio of 12.01, a PEG ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The business’s 50-day simple moving average is $192.44 and its 200 day simple moving average is $192.00.

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 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 period last year, the business earned $2.74 EPS. As a group, sell-side analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.07%. M&T Bank’s dividend payout ratio is 36.91%.

M&T Bank announced that its Board of Directors has initiated a share buyback 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 reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors 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.