BXM Wealth LLC Buys New Shares in M&T Bank Co. (NYSE:MTB)

BXM Wealth LLC purchased a new position in M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,100 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Plato Investment Management Ltd grew its stake in shares of M&T Bank by 2,300.0% in 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 during the period. Ashton Thomas Securities LLC bought a new position in M&T Bank in the third quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in 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 acquiring an additional 158 shares during the period. Y.D. More Investments Ltd increased its holdings in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of M&T Bank during the third quarter worth approximately $44,000. 84.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Compass Point boosted their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Bank of America raised their price target on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their price objective on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $221.68.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares of the company’s stock, 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. Insiders sold 24,611 shares of company stock worth $5,354,777 over the last three months. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $198.75 on Friday. The stock has a market cap of $32.98 billion, a P/E ratio of 13.59, a PEG ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The business’s 50-day moving average price is $195.84 and its two-hundred day moving average price is $188.61. 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 (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 period in the previous year, the company earned $2.74 EPS. As a group, equities analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Monday, December 2nd. M&T Bank’s payout ratio is currently 36.91%.

M&T Bank announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.