B. Metzler seel. Sohn & Co. AG Acquires 7,109 Shares of M&T Bank Co. (NYSE:MTB)

B. Metzler seel. Sohn & Co. AG raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 81.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,888 shares of the financial services provider’s stock after purchasing an additional 7,109 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in M&T Bank were worth $2,987,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTB. Townsquare Capital LLC acquired a new position in shares of M&T Bank in the third quarter worth approximately $230,000. Captrust Financial Advisors lifted its position in shares of M&T Bank by 3.6% in the 3rd quarter. Captrust Financial Advisors now owns 7,761 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 270 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of M&T Bank in the 3rd quarter valued at $1,074,000. Beacon Investment Advisory Services Inc. increased its position in shares of M&T Bank by 4.8% during the third quarter. Beacon Investment Advisory Services Inc. now owns 2,851 shares of the financial services provider’s stock worth $508,000 after buying an additional 130 shares during the period. Finally, Ascent Group LLC raised its stake in M&T Bank by 12.5% during the third quarter. Ascent Group LLC now owns 15,566 shares of the financial services provider’s stock worth $2,773,000 after buying an additional 1,728 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Down 1.4 %

MTB stock opened at $176.31 on Wednesday. The stock’s 50 day moving average is $188.64 and its 200-day moving average is $192.95. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The firm has a market capitalization of $28.97 billion, a PE ratio of 12.05, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business posted $2.74 EPS. Sell-side analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.06%. M&T Bank’s dividend payout ratio is currently 36.91%.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MTB shares. Morgan Stanley decreased their price target on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Wells Fargo & Company dropped their price target on M&T Bank from $205.00 to $185.00 and set an “underweight” rating on the stock in a research note on Friday, March 28th. Truist Financial reaffirmed a “buy” rating and set a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Finally, Compass Point boosted their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $218.79.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.