Boston Trust Walden Corp Purchases 74 Shares of M&T Bank Co. (NYSE:MTB)

Boston Trust Walden Corp lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,833 shares of the financial services provider’s stock after acquiring an additional 74 shares during the quarter. Boston Trust Walden Corp’s holdings in M&T Bank were worth $9,181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd increased its holdings 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 valued at $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in M&T Bank during the third quarter worth about $32,000. Hexagon Capital Partners LLC grew its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of 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 worth $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of M&T Bank during the third quarter worth about $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

NYSE:MTB opened at $196.10 on Tuesday. The company has a market cap of $32.54 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.41 and a beta of 0.79. The firm’s fifty day moving average price is $199.28 and its two-hundred day moving average price is $187.11. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99.

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 posted $2.74 EPS. Equities analysts expect that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership 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. Shareholders of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s payout ratio is 36.91%.

Insiders Place Their Bets

In other M&T Bank news, Director Kirk W. Walters sold 1,590 shares of M&T Bank stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the transaction, the director now directly owns 2,108 shares of the company’s stock, valued at $443,143.76. The trade was a 43.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the 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 in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,987 shares of company stock worth $6,713,709 in the last 90 days. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

MTB has been the topic of several research analyst reports. Royal Bank of Canada raised their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Barclays boosted 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 research report on Monday, January 6th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and increased their target price for the stock from $220.00 to $230.00 in a report on Monday, November 25th. DA Davidson boosted their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Truist Financial reiterated a “buy” rating and set a $236.00 price objective (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average price target 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.