Johnson Investment Counsel Inc. Reduces Position in M&T Bank Co. (NYSE:MTB)

Johnson Investment Counsel Inc. decreased its stake in shares of M&T Bank Co. (NYSE:MTB) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,493 shares of the financial services provider’s stock after selling 1,040 shares during the period. Johnson Investment Counsel Inc.’s holdings in M&T Bank were worth $1,033,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd increased its position in M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in M&T Bank during the third quarter worth $32,000. Y.D. More Investments Ltd increased its position in M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after buying an additional 114 shares in the last quarter. Human Investing LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at $44,000. Finally, Sierra Ocean LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.6 %

Shares of MTB opened at $172.18 on Thursday. The stock’s 50-day moving average is $193.13 and its two-hundred day moving average is $191.92. The stock has a market cap of $28.29 billion, a PE ratio of 11.77, a P/E/G ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. 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 (NYSE:MTB) last issued 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 quarter in the previous year, the firm earned $2.74 EPS. Equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

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

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MTB shares. 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. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. DA Davidson lifted 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. Piper Sandler lifted 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. Finally, Wells Fargo & Company lifted their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average target price 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.