M&T Bank Co. (NYSE:MTB) Shares Bought by Deltec Asset Management LLC

Deltec Asset Management LLC grew its holdings in M&T Bank Co. (NYSE:MTB) by 33.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,000 shares of the financial services provider’s stock after buying an additional 500 shares during the period. Deltec Asset Management LLC’s holdings in M&T Bank were worth $376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTB. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of M&T Bank by 21.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,451 shares of the financial services provider’s stock valued at $25,631,000 after acquiring an additional 23,679 shares during the period. Y.D. More Investments Ltd increased its holdings in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in M&T Bank in the fourth quarter valued at approximately $174,000. Mather Group LLC. lifted its stake in M&T Bank by 7.8% during the fourth quarter. Mather Group LLC. now owns 2,802 shares of the financial services provider’s stock worth $527,000 after purchasing an additional 203 shares in the last quarter. Finally, Columbus Macro LLC grew its stake in shares of M&T Bank by 49.0% in the fourth quarter. Columbus Macro LLC now owns 11,829 shares of the financial services provider’s stock valued at $2,224,000 after buying an additional 3,889 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Michael J. Todaro sold 4,786 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the transaction, the executive vice president now directly owns 2,787 shares of the company’s stock, valued at approximately $596,696.70. This trade represents a 63.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The shares were 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 owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,397 shares of company stock worth $6,379,459. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $197.86 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70. The stock has a 50 day moving average price of $198.31 and a 200 day moving average price of $187.54. The company has a market capitalization of $32.83 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the company posted $2.74 EPS. Research analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank declared that its board has initiated a share buyback 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 reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s payout ratio is currently 36.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler raised their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Bank of America raised their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their target price on shares of 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 raised their price target on shares of 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. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $221.68.

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