Los Angeles Capital Management LLC Purchases 11,365 Shares of M&T Bank Co. (NYSE:MTB)

Los Angeles Capital Management LLC grew its holdings in M&T Bank Co. (NYSE:MTB) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 604,317 shares of the financial services provider’s stock after acquiring an additional 11,365 shares during the period. Los Angeles Capital Management LLC’s holdings in M&T Bank were worth $113,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MTB. Plato Investment Management Ltd grew its stake in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in M&T Bank in the 3rd quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the last quarter. Y.D. More Investments Ltd raised its stake 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 worth $39,000 after acquiring an additional 114 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank during the 3rd quarter worth about $44,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

NYSE MTB opened at $192.82 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. 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 capitalization of $31.69 billion, a PE ratio of 13.18, a P/E/G ratio of 1.38 and a beta of 0.79. The company has a fifty day moving average of $194.95 and a two-hundred day moving average of $190.51.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 in the prior year, the business earned $2.74 earnings per share. As a group, analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm 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 dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTB. DA Davidson increased their price target on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Piper Sandler raised their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their target price for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Evercore ISI lifted their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $221.68.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company’s stock.

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.