M&T Bank Co. (NYSE:MTB) Position Boosted by Glenview Trust co

Glenview Trust co increased its holdings in M&T Bank Co. (NYSE:MTB) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,336 shares of the financial services provider’s stock after buying an additional 286 shares during the quarter. Glenview Trust co’s holdings in M&T Bank were worth $815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC grew its holdings in M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares in the last quarter. State Street Corp grew its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in M&T Bank by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock worth $994,522,000 after buying an additional 252,583 shares in the last quarter. Geode Capital Management LLC grew its holdings in M&T Bank by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after buying an additional 66,337 shares in the last quarter. Finally, Senvest Management LLC grew its holdings in M&T Bank by 12.3% in the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock worth $157,252,000 after buying an additional 96,500 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $175.61 on Tuesday. The stock has a market cap of $28.85 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The business has a fifty day simple moving average of $192.09 and a 200-day simple moving average of $192.19. 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 Co. has a 12 month low of $133.03 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last issued its 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 period in the previous year, the firm earned $2.74 earnings per share. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

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

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays upped their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. DA Davidson upped their target price on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and upped their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Piper Sandler upped their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $222.03.

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.