M&T Bank Co. (NYSE:MTB) Shares Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 23.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,732 shares of the financial services provider’s stock after buying an additional 700 shares during the period. Meeder Advisory Services Inc.’s holdings in M&T Bank were worth $702,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MTB. Townsquare Capital LLC acquired a new stake in shares of M&T Bank during the third quarter worth $230,000. Captrust Financial Advisors boosted its stake in M&T Bank by 3.6% in the 3rd quarter. Captrust Financial Advisors now owns 7,761 shares of the financial services provider’s stock worth $1,382,000 after buying an additional 270 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in M&T Bank in the 3rd quarter valued at about $1,074,000. HighTower Advisors LLC increased its stake in shares of M&T Bank by 2.1% during the 3rd quarter. HighTower Advisors LLC now owns 52,507 shares of the financial services provider’s stock valued at $9,353,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its position in shares of M&T Bank by 47.7% in the third quarter. Investment Management Corp of Ontario now owns 5,576 shares of the financial services provider’s stock worth $993,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MTB shares. Citigroup dropped their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Evercore ISI dropped their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Truist Financial restated a “buy” rating and set a $236.00 price target (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $216.62.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm’s 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 completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

M&T Bank Trading Down 9.1 %

MTB opened at $163.38 on Friday. The firm has a market capitalization of $26.84 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.38 and a beta of 0.58. The firm’s 50 day moving average is $187.65 and its 200-day moving average is $192.65. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70.

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

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.