M&T Bank Co. (NYSE:MTB) Shares Purchased by Cutler Capital Management LLC

Cutler Capital Management LLC raised its holdings in M&T Bank Co. (NYSE:MTB) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,179 shares of the financial services provider’s stock after acquiring an additional 145 shares during the quarter. Cutler Capital Management LLC’s holdings in M&T Bank were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. DRW Securities LLC purchased a new position in M&T Bank in the 4th quarter worth about $252,000. Raymond James Financial Inc. purchased a new position in shares of M&T Bank in the fourth quarter worth approximately $21,783,000. APG Asset Management N.V. acquired a new stake in shares of M&T Bank during the fourth quarter valued at approximately $16,123,000. FIL Ltd raised its holdings in shares of M&T Bank by 83.7% during the fourth quarter. FIL Ltd now owns 4,367 shares of the financial services provider’s stock valued at $821,000 after acquiring an additional 1,990 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of M&T Bank by 9.2% in the 4th quarter. Cerity Partners LLC now owns 34,496 shares of the financial services provider’s stock valued at $6,382,000 after acquiring an additional 2,905 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related 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 transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $155.85 on Wednesday. M&T Bank Co. has a 12 month low of $127.15 and a 12 month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a market cap of $25.60 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.38 and a beta of 0.58. The business’s 50 day moving average is $184.18 and its two-hundred day moving average is $192.22.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 earnings per share. On average, equities analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given 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 3.46%. M&T Bank’s dividend payout ratio is currently 36.91%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MTB shares. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. DA Davidson upped their target price on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Barclays raised their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating on the stock in a research note on Friday, March 28th. Finally, Truist Financial decreased their target price on shares of M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $215.97.

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.