Wealthspire Advisors LLC Boosts Position in M&T Bank Co. (NYSE:MTB)

Wealthspire Advisors LLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 21.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,022 shares of the financial services provider’s stock after acquiring an additional 532 shares during the period. Wealthspire Advisors LLC’s holdings in M&T Bank were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC increased its position in shares of M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after purchasing an additional 52 shares during the last quarter. Catalina Capital Group LLC increased its position in shares of M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 56 shares during the last quarter. Crestwood Advisors Group LLC increased its position in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 57 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in shares of M&T Bank by 1.2% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock worth $975,000 after purchasing an additional 63 shares during the last quarter. Finally, Meitav Investment House Ltd. increased its position in shares of M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on MTB shares. Barclays raised their price objective 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 lifted their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. 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 research report on Wednesday, December 4th. Compass Point lifted their target price on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group lifted their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Trading Down 0.6 %

NYSE:MTB opened at $189.54 on Thursday. The firm has a market cap of $31.15 billion, a P/E ratio of 12.96, a PEG ratio of 1.38 and a beta of 0.79. 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 stock’s 50 day simple moving average is $194.90 and its 200-day simple moving average is $190.70. 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 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 company earned $2.74 EPS. Equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s payout ratio is currently 36.91%.

About M&T Bank

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.