Meitav Investment House Ltd. Buys 815 Shares of M&T Bank Co. (NYSE:MTB)

Meitav Investment House Ltd. lifted its stake in M&T Bank Co. (NYSE:MTB) by 35.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,085 shares of the financial services provider’s stock after buying an additional 815 shares during the quarter. Meitav Investment House Ltd.’s holdings in M&T Bank were worth $580,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Plato Investment Management Ltd grew its holdings in M&T Bank by 2,300.0% during the 3rd 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 in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank in the third quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd increased its position in M&T Bank by 122.6% in 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 during the last quarter. Finally, Human Investing LLC purchased a new stake in M&T Bank during the fourth quarter valued at $44,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MTB shares. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. 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 research note on Friday, November 15th. Keefe, Bruyette & Woods upped their price objective 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. The Goldman Sachs Group lifted their target price on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Piper Sandler increased their price target on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average target price of $221.68.

M&T Bank Price Performance

Shares of MTB stock opened at $197.63 on Friday. The company’s 50-day simple moving average is $195.20 and its two-hundred day simple moving average is $189.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. 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 $32.79 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.41 and a beta of 0.79.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate 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 company posted $2.74 EPS. As a group, equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend yield of 2.73%. M&T Bank’s payout ratio is currently 36.91%.

M&T Bank declared that its board has initiated a stock repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

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.