Daner Wealth Management LLC Buys New Stake in M&T Bank Co. (NYSE:MTB)

Daner Wealth Management LLC bought a new stake in M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,282 shares of the financial services provider’s stock, valued at approximately $259,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after purchasing an additional 1,508,846 shares in the last quarter. State Street Corp lifted its holdings in M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after purchasing an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after purchasing an additional 190,837 shares in the last quarter. Geode Capital Management LLC lifted its holdings in M&T Bank by 1.6% during the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after purchasing an additional 66,337 shares in the last quarter. Finally, Senvest Management LLC lifted its holdings in M&T Bank by 12.3% during the third quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after purchasing an additional 96,500 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank 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 directly owns 16,429 shares in the company, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MTB shares. The Goldman Sachs Group increased their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Barclays increased their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report 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 stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI raised their price target on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One 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’s stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Price Performance

M&T Bank stock opened at $190.49 on Wednesday. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The stock has a market cap of $31.30 billion, a P/E ratio of 13.02, a PEG ratio of 1.38 and a beta of 0.79. The company has a 50-day moving average price of $194.83 and a 200 day moving average price of $190.71. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released its quarterly earnings data 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 quarter in the previous year, the company earned $2.74 earnings per share. Sell-side analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its Board of Directors has authorized a share repurchase 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 repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is presently 36.91%.

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.