M&T Bank Co. (NYSE:MTB) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 33.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,387 shares of the financial services provider’s stock after purchasing an additional 5,408 shares during the quarter. Fisher Asset Management LLC’s holdings in M&T Bank were worth $4,021,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sanctuary Advisors LLC grew its position in shares of M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares in the last quarter. Catalina Capital Group LLC grew its holdings in 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 acquiring an additional 56 shares in the last quarter. Crestwood Advisors Group LLC increased its position in shares of M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $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% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 63 shares during the last quarter. Finally, Pitcairn Co. lifted its position in shares of M&T Bank by 0.8% during the 3rd quarter. Pitcairn Co. now owns 9,362 shares of the financial services provider’s stock worth $1,668,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods increased 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. DA Davidson raised their price objective on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Piper Sandler boosted their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reissued 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. Finally, Compass Point lifted their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Performance

NYSE:MTB opened at $181.36 on Wednesday. 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 company has a market capitalization of $29.80 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. The firm has a 50-day moving average price of $194.82 and a two-hundred day moving average price of $191.66. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly 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 period in the previous year, the business earned $2.74 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has approved a share repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.98%. M&T Bank’s dividend payout ratio (DPR) is presently 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.