Umpqua Bank Buys 168 Shares of M&T Bank Co. (NYSE:MTB)

Umpqua Bank lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,678 shares of the financial services provider’s stock after acquiring an additional 168 shares during the quarter. Umpqua Bank’s holdings in M&T Bank were worth $327,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. FMR LLC lifted its position in shares of M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after purchasing an additional 1,508,846 shares during the last quarter. State Street Corp lifted its position in shares of M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after purchasing an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of M&T Bank by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock worth $994,522,000 after purchasing an additional 252,583 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of M&T Bank by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after purchasing an additional 66,337 shares during the last quarter. Finally, Senvest Management LLC raised its holdings in M&T Bank by 12.3% in the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after acquiring an additional 96,500 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Down 2.0 %

NYSE MTB opened at $193.48 on Friday. The firm has a market cap of $31.80 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The stock’s 50 day simple moving average is $195.09 and its 200 day simple moving average is $190.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 last year, the firm posted $2.74 EPS. As a group, sell-side analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.79%. M&T Bank’s payout ratio is 36.91%.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Wells Fargo & Company upped their price target on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Truist Financial reaffirmed a “buy” rating and issued a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Compass Point upped their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price target 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. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $221.68.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction 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 in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.82% 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.