Good Life Advisors LLC Invests $227,000 in M&T Bank Co. (NYSE:MTB)

Good Life Advisors LLC bought a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,209 shares of the financial services provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Plato Investment Management Ltd increased its stake in shares of 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 purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank during the third quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd increased its stake in shares of 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 purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank during the third quarter worth about $44,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB stock opened at $193.48 on Friday. The firm’s 50 day moving average price is $195.09 and its 200-day moving average price is $189.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The firm has a market cap of $32.10 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.40 and a beta of 0.79.

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 the consensus estimate 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 period last year, the company posted $2.74 EPS. As a group, equities research analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its Board of Directors has approved a share buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

M&T Bank Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Piper Sandler upped their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $230.00 in a research note on Monday, November 25th. Finally, Evercore ISI upped their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One equities research 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’s stock. According to MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average target price of $221.68.

M&T Bank 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.