TIAA Trust National Association Buys 70 Shares of M&T Bank Co. (NYSE:MTB)

TIAA Trust National Association boosted its stake in M&T Bank Co. (NYSE:MTB) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,190 shares of the financial services provider’s stock after purchasing an additional 70 shares during the quarter. TIAA Trust National Association’s holdings in M&T Bank were worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd raised its position 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 acquiring an additional 114 shares during the period. Human Investing LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank during the 4th quarter worth $44,000. Principal Securities Inc. lifted its holdings in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 132 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in M&T Bank in the fourth quarter valued at about $92,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Down 1.4 %

MTB stock opened at $179.64 on Friday. The business’s 50 day simple moving average is $189.87 and its 200 day simple moving average is $192.40. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70. The firm has a market capitalization of $29.51 billion, a PE ratio of 12.28, a PEG ratio of 1.38 and a beta of 0.74. 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 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. As a group, research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its board has authorized a share repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.01%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTB shares. 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 report on Friday, January 17th. Evercore ISI cut their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. DA Davidson increased their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. 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. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $219.97.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.