Whittier Trust Co. Has $403,000 Stake in M&T Bank Co. (NYSE:MTB)

Whittier Trust Co. reduced its holdings in M&T Bank Co. (NYSE:MTB) by 27.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,146 shares of the financial services provider’s stock after selling 832 shares during the period. Whittier Trust Co.’s holdings in M&T Bank were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Y.D. More Investments Ltd lifted its stake in shares of 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 valued at $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC bought a new position in M&T Bank during the fourth quarter worth about $44,000. Sierra Ocean LLC acquired a new position in shares of M&T Bank during the 4th quarter worth about $44,000. Principal Securities Inc. increased its stake in shares of M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 132 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $91,000. 84.68% of the stock is owned by institutional investors.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MTB shares. Compass Point upped their target price 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Truist Financial restated a “buy” rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $222.03.

M&T Bank Trading Up 0.7 %

Shares of NYSE:MTB opened at $178.19 on Friday. The company’s 50-day moving average price is $190.99 and its two-hundred day moving average price is $192.18. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The stock has a market capitalization of $29.27 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last released its earnings results 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 return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the firm earned $2.74 EPS. On average, equities analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

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

M&T Bank Announces Dividend

The business 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s payout ratio is presently 36.91%.

M&T Bank 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.