M&T Bank Co. (NYSE:MTB) Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. raised its holdings in M&T Bank Co. (NYSE:MTB) by 281.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 785 shares of the financial services provider’s stock after purchasing an additional 579 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in M&T Bank were worth $148,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Czech National Bank raised its position in shares of M&T Bank by 7.0% during the 3rd quarter. Czech National Bank now owns 34,019 shares of the financial services provider’s stock valued at $6,059,000 after acquiring an additional 2,224 shares in the last quarter. Mather Group LLC. raised its position in shares of M&T Bank by 5.0% during the 3rd quarter. Mather Group LLC. now owns 2,599 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 123 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of M&T Bank during the 3rd quarter valued at approximately $252,000. CWM LLC raised its position in shares of M&T Bank by 9.1% during the 3rd quarter. CWM LLC now owns 6,107 shares of the financial services provider’s stock valued at $1,088,000 after acquiring an additional 511 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Trading Down 0.7 %

NYSE:MTB opened at $200.59 on Friday. M&T Bank Co. has a 1 year low of $129.36 and a 1 year high of $225.70. The stock has a market cap of $33.28 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.41 and a beta of 0.79. The business has a fifty day moving average of $197.49 and a 200-day moving average of $187.72. 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 (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating 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 quarter in the previous year, the company earned $2.74 earnings per share. Equities analysts predict that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank announced that its board has initiated a stock buyback program 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 buy up to 12.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.69%. M&T Bank’s dividend payout ratio is currently 36.91%.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the completion of the transaction, the director now owns 35,480 shares of the company’s stock, valued at $7,715,126. This trade represents a 36.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael J. Todaro sold 4,786 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total value of $1,024,682.60. Following the sale, the executive vice president now directly owns 2,787 shares of the company’s stock, valued at approximately $596,696.70. This represents a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,397 shares of company stock valued at $6,379,459 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTB has been the topic of several research reports. Barclays upped their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and upped their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Truist Financial restated a “buy” rating and set a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI upped their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.