Deseret Mutual Benefit Administrators Sells 68 Shares of M&T Bank Co. (NYSE:MTB)

Deseret Mutual Benefit Administrators cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 297 shares of the financial services provider’s stock after selling 68 shares during the period. Deseret Mutual Benefit Administrators’ holdings in M&T Bank were worth $56,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its stake in M&T Bank by 34.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock valued at $1,473,000 after acquiring an additional 2,018 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank during the 3rd quarter valued at $44,000. Flagship Harbor Advisors LLC increased its position in shares of M&T Bank by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,295 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in shares of M&T Bank during the 4th quarter valued at $290,000. Finally, Principal Financial Group Inc. increased its position in shares of M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after purchasing an additional 2,797 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by corporate insiders.

M&T Bank Stock Performance

M&T Bank stock opened at $193.48 on Friday. The firm’s fifty day moving average price is $195.09 and its 200-day moving average price is $190.08. 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 $31.80 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data 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 quarter in the previous year, the company posted $2.74 EPS. On average, equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has approved a stock repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s payout ratio is presently 36.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MTB shares. Compass Point raised their target price on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Truist Financial reaffirmed a “buy” rating and set a $236.00 target price (up from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. 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 data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average price target 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.