M&T Bank Co. (NYSE:MTB) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its position in M&T Bank Co. (NYSE:MTB) by 38.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 441,102 shares of the financial services provider’s stock after purchasing an additional 122,113 shares during the period. Federated Hermes Inc. owned 0.27% of M&T Bank worth $82,932,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $1,370,000. Quadrant Capital Group LLC boosted its stake in M&T Bank by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 53 shares during the period. Russell Investments Group Ltd. grew its position in M&T Bank by 1.0% during the 4th quarter. Russell Investments Group Ltd. now owns 73,383 shares of the financial services provider’s stock worth $13,803,000 after purchasing an additional 717 shares during the last quarter. Aviva PLC increased its stake in M&T Bank by 43.5% in the fourth quarter. Aviva PLC now owns 45,388 shares of the financial services provider’s stock valued at $8,533,000 after purchasing an additional 13,768 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of M&T Bank in the fourth quarter valued at about $1,021,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now 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 filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MTB shares. DA Davidson raised their price target on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Citigroup dropped their target price on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Wells Fargo & Company decreased their price target on M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a report on Friday, March 28th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $215.97.

M&T Bank Stock Down 3.8 %

MTB opened at $157.13 on Monday. 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 cap of $25.82 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The business’s fifty day moving average is $186.82 and its two-hundred day moving average is $192.80.

M&T Bank (NYSE:MTB) last issued 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 business posted $2.74 EPS. Analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.44%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

M&T Bank announced that its board has approved a share repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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