Columbus Macro LLC Has $2.22 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Columbus Macro LLC raised its position in M&T Bank Co. (NYSE:MTB) by 49.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,829 shares of the financial services provider’s stock after acquiring an additional 3,889 shares during the period. Columbus Macro LLC’s holdings in M&T Bank were worth $2,224,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTB. Hedeker Wealth LLC raised its position in M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 55 shares during the period. Catalina Capital Group LLC grew its holdings in M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 56 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 57 shares during the last quarter. Crestwood Advisors Group LLC increased its holdings in M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 57 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of 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 worth $34,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related news, Director Kirk W. Walters sold 1,590 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the transaction, the director now directly owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. This trade represents a 43.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction that occurred 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 owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was 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 valued at $6,713,709 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

M&T Bank Stock Performance

NYSE MTB opened at $196.10 on Tuesday. The stock has a market capitalization of $32.54 billion, a PE ratio of 13.40, a P/E/G ratio of 1.41 and a beta of 0.79. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The business has a 50 day simple moving average of $199.28 and a two-hundred day simple moving average of $187.11. 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 return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the firm posted $2.74 EPS. On average, research analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank declared that its board has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.75%. M&T Bank’s payout ratio is 36.91%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial reissued 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. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Piper Sandler upped their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Compass Point lifted their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $221.68.

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.