Howard Capital Management Inc. Raises Holdings in M&T Bank Co. (NYSE:MTB)

Howard Capital Management Inc. lifted its position in M&T Bank Co. (NYSE:MTB) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,624 shares of the financial services provider’s stock after buying an additional 187 shares during the period. Howard Capital Management Inc.’s holdings in M&T Bank were worth $5,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthspire Advisors LLC boosted its stake in shares of M&T Bank by 21.4% in the 4th quarter. Wealthspire Advisors LLC now owns 3,022 shares of the financial services provider’s stock worth $568,000 after buying an additional 532 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in shares of M&T Bank by 0.5% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 35,630 shares of the financial services provider’s stock worth $6,699,000 after buying an additional 180 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new position in shares of M&T Bank in the 4th quarter worth $771,000. Hussman Strategic Advisors Inc. purchased a new position in shares of M&T Bank in the 4th quarter worth $1,184,000. Finally, Meitav Investment House Ltd. boosted its stake in shares of M&T Bank by 35.9% in the 4th quarter. Meitav Investment House Ltd. now owns 3,085 shares of the financial services provider’s stock worth $580,000 after buying an additional 815 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MTB. JPMorgan Chase & Co. reaffirmed 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. Evercore ISI raised their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. The Goldman Sachs Group raised their target price on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Piper Sandler raised their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average target price of $221.68.

Insider Activity at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

M&T Bank Stock Down 2.0 %

Shares of NYSE MTB opened at $193.48 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The firm has a market capitalization of $31.80 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.38 and a beta of 0.79. The stock has a 50 day moving average price of $195.09 and a 200 day moving average price of $190.08. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results 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 10.12% and a net margin of 19.24%. During the same period last year, the business earned $2.74 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a dividend yield of 2.79%. M&T Bank’s payout ratio is 36.91%.

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

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.