NEOS Investment Management LLC Grows Stock Holdings in M&T Bank Co. (NYSE:MTB)

NEOS Investment Management LLC boosted its holdings in M&T Bank Co. (NYSE:MTB) by 25.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,075 shares of the financial services provider’s stock after buying an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in M&T Bank were worth $1,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its holdings in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares during the last quarter. Human Investing LLC purchased a new position in M&T Bank in the fourth quarter valued at approximately $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank during the fourth quarter worth approximately $44,000. Principal Securities Inc. lifted its position in shares of M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after buying an additional 132 shares during the last quarter. Finally, Kentucky Trust Co acquired a new position in shares of M&T Bank in the 4th quarter valued at $92,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MTB. Truist Financial reissued a “buy” rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Wells Fargo & Company decreased their target price on M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a research report on Friday. Barclays lifted their price target 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. Keefe, Bruyette & Woods increased their price objective 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. Finally, Compass Point lifted their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $218.79.

M&T Bank Stock Performance

NYSE MTB opened at $175.21 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $189.44 and its two-hundred day moving average is $192.62. The stock has a market capitalization of $28.78 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.38 and a beta of 0.74. 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 released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (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 business earned $2.74 earnings per share. Research analysts expect that M&T Bank Co. will post 16.57 EPS 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. Investors 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 3.08%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.