Barrow Hanley Mewhinney & Strauss LLC Sells 19,385 Shares of M&T Bank Co. (NYSE:MTB)

Barrow Hanley Mewhinney & Strauss LLC cut its position in shares of M&T Bank Co. (NYSE:MTB) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,307,326 shares of the financial services provider’s stock after selling 19,385 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in M&T Bank were worth $245,790,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd boosted its holdings in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC acquired a new position in shares of M&T Bank in the fourth quarter worth about $44,000. Sierra Ocean LLC purchased a new position in M&T Bank during the fourth quarter worth approximately $44,000. Loomis Sayles & Co. L P purchased a new stake in M&T Bank in the 4th quarter worth $52,000. Finally, Principal Securities Inc. boosted its stake in shares of M&T Bank by 47.5% in 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 during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $175.21 on Friday. The business has a 50-day moving average price of $189.44 and a two-hundred day moving average price of $192.62. The stock has a market capitalization of $28.78 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70. 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 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 in the previous year, the firm posted $2.74 earnings per share. Equities analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

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

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This trade represents 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. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MTB shares. DA Davidson upped their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Truist Financial restated a “buy” rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Finally, Compass Point increased their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. One equities research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $218.79.

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