Skandinaviska Enskilda Banken AB publ Has $6.45 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Skandinaviska Enskilda Banken AB publ lowered its position in M&T Bank Co. (NYSE:MTB) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,216 shares of the financial services provider’s stock after selling 170 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in M&T Bank were worth $6,452,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Essential Planning LLC. bought a new stake in M&T Bank in the fourth quarter valued at approximately $9,459,000. HighTower Advisors LLC lifted its holdings in M&T Bank by 1.9% during the 4th quarter. HighTower Advisors LLC now owns 53,479 shares of the financial services provider’s stock valued at $10,055,000 after purchasing an additional 972 shares during the last quarter. Moors & Cabot Inc. boosted its position in M&T Bank by 1.6% during the fourth quarter. Moors & Cabot Inc. now owns 7,551 shares of the financial services provider’s stock worth $1,420,000 after purchasing an additional 122 shares during the period. AGF Management Ltd. increased its holdings in shares of M&T Bank by 34.0% in the fourth quarter. AGF Management Ltd. now owns 168,789 shares of the financial services provider’s stock valued at $31,734,000 after purchasing an additional 42,781 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in M&T Bank by 13.5% in the 4th quarter. Citizens Financial Group Inc. RI now owns 2,149 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 255 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

MTB opened at $175.69 on Friday. 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’s fifty day moving average price is $192.44 and its two-hundred day moving average price is $192.00. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70. The company has a market cap of $28.86 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $2.74 earnings per share. On average, analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.07%. M&T Bank’s payout ratio is 36.91%.

M&T Bank declared that its board has authorized a share buyback plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Truist Financial reaffirmed a “buy” rating and issued a $236.00 price objective (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays upped their target price on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Evercore ISI cut their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday. 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 stock. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average target price of $222.03.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

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.