4,439 Shares in M&T Bank Co. (NYSE:MTB) Purchased by L.K. Benson & Company P.C.

L.K. Benson & Company P.C. bought a new stake in shares of M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,439 shares of the financial services provider’s stock, valued at approximately $835,000.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after buying an additional 1,508,846 shares in the last quarter. State Street Corp grew its stake in M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after acquiring an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in M&T Bank by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock valued at $994,522,000 after acquiring an additional 252,583 shares during the last quarter. Geode Capital Management LLC lifted its stake in M&T Bank by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after purchasing an additional 66,337 shares in the last quarter. Finally, Senvest Management LLC boosted its holdings in shares of M&T Bank by 12.3% during the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after purchasing an additional 96,500 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Down 0.3 %

Shares of NYSE MTB opened at $174.82 on Wednesday. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The firm has a 50-day simple moving average of $191.75 and a two-hundred day simple moving average of $192.21. The company has a market cap of $28.72 billion, a P/E ratio of 11.95, a PEG ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $2.74 earnings per share. Research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank announced that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays lifted their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Evercore ISI reduced 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 report on Thursday, March 13th. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $222.03.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction dated 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 directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

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.