Ritholtz Wealth Management Grows Stock Position in M&T Bank Co. (NYSE:MTB)

Ritholtz Wealth Management increased its holdings in M&T Bank Co. (NYSE:MTB) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,484 shares of the financial services provider’s stock after buying an additional 787 shares during the quarter. Ritholtz Wealth Management’s holdings in M&T Bank were worth $843,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd boosted its stake 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 acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in M&T Bank during the third quarter valued at about $32,000. Hexagon Capital Partners LLC increased its position in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after buying an additional 158 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of M&T Bank during the 3rd quarter valued at about $44,000. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MTB. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Wedbush raised their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Piper Sandler upped their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Barclays upped their price objective on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Performance

M&T Bank stock opened at $196.88 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The company’s 50-day moving average price is $202.41 and its 200-day moving average price is $183.71. The company has a market cap of $32.67 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.16 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same quarter in the prior year, the firm earned $2.74 EPS. On average, equities research analysts forecast that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Insider Activity

In other M&T Bank news, EVP John R. Taylor sold 1,436 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the sale, the executive vice president now owns 5,618 shares in the company, valued at $1,095,678.54. This trade represents a 20.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the sale, the director now directly owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This represents a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is currently owned by company insiders.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.