M&T Bank Co. (NYSE:MTB) Holdings Cut by AlphaQuest LLC

AlphaQuest LLC lowered its holdings in M&T Bank Co. (NYSE:MTB) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,771 shares of the financial services provider’s stock after selling 215 shares during the period. AlphaQuest LLC’s holdings in M&T Bank were worth $521,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd increased its stake in shares of 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 period. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $32,000. Y.D. More Investments Ltd increased its stake in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Finally, Sierra Ocean LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.6 %

NYSE MTB opened at $172.18 on Thursday. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. 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 stock has a market cap of $28.29 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.38 and a beta of 0.74. The firm’s 50 day moving average price is $193.13 and its two-hundred day moving average price is $191.92.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 quarter in the previous year, the company posted $2.74 EPS. Equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its board has approved a stock repurchase plan 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 purchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently declared 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 3.14%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

Wall Street Analysts Forecast Growth

MTB has been the topic of several analyst reports. 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 research note on Monday, November 25th. The Goldman Sachs Group raised their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Truist Financial reiterated a “buy” rating and set a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Compass Point raised their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, DA Davidson raised their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $221.68.

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.