Exencial Wealth Advisors LLC Purchases Shares of 43,523 M&T Bank Co. (NYSE:MTB)

Exencial Wealth Advisors LLC acquired a new stake in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 43,523 shares of the financial services provider’s stock, valued at approximately $8,183,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MTB. US Bancorp DE grew its stake in M&T Bank by 3.0% during the third quarter. US Bancorp DE now owns 6,743 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 195 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of M&T Bank by 23.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,653 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 509 shares in the last quarter. Janney Montgomery Scott LLC grew its position in M&T Bank by 0.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 77,438 shares of the financial services provider’s stock worth $13,793,000 after acquiring an additional 359 shares during the last quarter. TrueWealth Advisors LLC acquired a new stake in M&T Bank during the 3rd quarter valued at $210,000. Finally, National Pension Service raised its position in M&T Bank by 5.2% in the 3rd quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock valued at $47,761,000 after purchasing an additional 13,302 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Down 1.7 %

Shares of NYSE:MTB opened at $188.50 on Tuesday. The company has a 50 day moving average price of $195.01 and a two-hundred day moving average price of $191.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company has a market capitalization of $30.98 billion, a PE ratio of 12.88, a PEG ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates 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 posted $2.74 earnings per share. Analysts forecast 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 approved a stock repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTB. The Goldman Sachs Group raised their target price 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. Wells Fargo & Company raised their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Piper Sandler upped 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 report on Wednesday, November 27th. Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their price target for the company from $220.00 to $230.00 in a report on Monday, November 25th. Finally, Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $221.68.

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.