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

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

Several other institutional investors also recently bought and sold shares of MTB. FMR LLC raised its holdings in M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after buying an additional 1,508,846 shares in the last quarter. State Street Corp raised its holdings in M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock valued at $994,522,000 after buying an additional 252,583 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in M&T Bank during the third quarter valued at about $44,422,000. Finally, Amundi raised its holdings in M&T Bank by 43.5% during the fourth quarter. Amundi now owns 807,339 shares of the financial services provider’s stock valued at $154,315,000 after buying an additional 244,709 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Up 0.0 %

MTB stock opened at $175.61 on Tuesday. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The company 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’s 50-day simple moving average is $192.09 and its 200 day simple moving average is $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 (NYSE:MTB) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 prior year, the firm earned $2.74 EPS. On average, research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, March 3rd. M&T Bank’s payout ratio is 36.91%.

M&T Bank announced that its board has authorized a share repurchase plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on MTB. Truist Financial restated a “buy” rating and set a $236.00 target price (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $222.03.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred 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 sale, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

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.