30,528 Shares in M&T Bank Co. (NYSE:MTB) Bought by Algebris UK Ltd

Algebris UK Ltd bought a new stake in M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,528 shares of the financial services provider’s stock, valued at approximately $5,543,000. M&T Bank comprises approximately 1.4% of Algebris UK Ltd’s investment portfolio, making the stock its 25th largest holding.

Other large investors also recently bought and sold shares of the company. Y.D. More Investments Ltd grew its holdings in M&T Bank by 122.6% in the fourth 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 during the last quarter. Human Investing LLC acquired a new stake in M&T Bank in the fourth quarter valued at $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank in the fourth quarter valued at $44,000. Principal Securities Inc. grew its holdings in M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 132 shares during the last quarter. Finally, Kentucky Trust Co acquired a new stake in M&T Bank in the fourth quarter valued at $92,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

M&T Bank stock opened at $174.82 on Wednesday. The stock’s 50-day moving average is $191.75 and its 200-day moving average is $192.21. The company has a market cap of $28.72 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last released 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 return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business posted $2.74 EPS. Equities analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its board has initiated a share repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

M&T Bank Announces Dividend

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 $1.35 dividend. 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 3.09%. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial reissued a “buy” rating and issued a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. DA Davidson upped their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped 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. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler upped their price objective on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $222.03.

About M&T Bank

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.