Captrust Financial Advisors Acquires 1,380 Shares of M&T Bank Co. (NYSE:MTB)

Captrust Financial Advisors boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,141 shares of the financial services provider’s stock after purchasing an additional 1,380 shares during the quarter. Captrust Financial Advisors’ holdings in M&T Bank were worth $1,719,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MTB. FMR LLC boosted its stake in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider’s stock valued at $2,652,899,000 after purchasing an additional 1,761,014 shares during the period. Norges Bank bought a new stake in M&T Bank during the 4th quarter valued at approximately $317,690,000. Charles Schwab Investment Management Inc. boosted its stake in M&T Bank by 5.0% during 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 purchasing an additional 252,583 shares during the period. Amundi boosted its stake in M&T Bank by 43.5% during the 4th quarter. Amundi now owns 807,339 shares of the financial services provider’s stock valued at $154,315,000 after purchasing an additional 244,709 shares during the period. Finally, Northern Trust Corp boosted its stake in M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider’s stock valued at $316,483,000 after purchasing an additional 215,100 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 1.1%

Shares of NYSE MTB opened at $186.67 on Wednesday. The stock has a market cap of $29.96 billion, a PE ratio of 12.76, a PEG ratio of 1.38 and a beta of 0.58. The business has a fifty day moving average of $170.49 and a two-hundred day moving average of $189.48. M&T Bank Co. has a 52-week low of $139.78 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $3.09 earnings per share. As a group, equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.89%. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MTB. JPMorgan Chase & Co. decreased their target price on M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Truist Financial cut their target price on M&T Bank from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley decreased their price target on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler dropped their price objective on shares of M&T Bank from $220.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $208.24.

Insider Activity

In other 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 value of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by corporate insiders.

About M&T Bank

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.