Amundi Buys 244,709 Shares of M&T Bank Co. (NYSE:MTB)

Amundi grew its stake in shares of M&T Bank Co. (NYSE:MTB) by 43.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 807,339 shares of the financial services provider’s stock after buying an additional 244,709 shares during the period. Amundi owned 0.49% of M&T Bank worth $154,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Plato Investment Management Ltd increased its position in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank during the third quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of M&T Bank during the third quarter worth about $44,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

NYSE:MTB opened at $173.68 on Tuesday. The firm has a market cap of $28.53 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The business has a 50 day moving average price of $193.77 and a 200-day moving average price of $192.04.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 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 quarter in the prior year, the firm earned $2.74 earnings per share. Equities research analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.11%. M&T Bank’s dividend payout ratio is presently 36.91%.

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

Analysts Set New Price Targets

Several brokerages have recently commented on MTB. Wells Fargo & Company boosted their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Piper Sandler boosted their price objective on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Compass Point boosted their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $221.68.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.