Orion Portfolio Solutions LLC Sells 14,436 Shares of M&T Bank Co. (NYSE:MTB)

Orion Portfolio Solutions LLC trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 37.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,334 shares of the financial services provider’s stock after selling 14,436 shares during the period. Orion Portfolio Solutions LLC’s holdings in M&T Bank were worth $4,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its stake in shares of M&T Bank by 0.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 50,638 shares of the financial services provider’s stock worth $9,520,000 after purchasing an additional 363 shares in the last quarter. Norges Bank purchased a new position in M&T Bank in the 4th quarter valued at approximately $317,690,000. Blair William & Co. IL raised its holdings in M&T Bank by 3.7% during the 4th quarter. Blair William & Co. IL now owns 7,491 shares of the financial services provider’s stock valued at $1,408,000 after acquiring an additional 269 shares during the period. Rockbridge Investment Management LCC purchased a new stake in shares of M&T Bank during the fourth quarter worth $215,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of M&T Bank in the fourth quarter worth $52,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

M&T Bank Trading Down 2.5 %

MTB stock opened at $175.21 on Monday. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The company has a market capitalization of $28.78 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company’s 50 day moving average price is $189.44 and its two-hundred day moving average price is $192.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the business earned $2.74 earnings per share. As a group, analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its board 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 reacquire up to 12.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.08%. M&T Bank’s payout ratio is 36.91%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Truist Financial restated a “buy” rating and issued a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Barclays upped their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Evercore ISI cut their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $218.79.

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.