2,814 Shares in M&T Bank Corporation $MTB Bought by Tobam

Tobam bought a new position in shares of M&T Bank Corporation (NYSE:MTB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,814 shares of the financial services provider’s stock, valued at approximately $567,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triumph Capital Management bought a new stake in shares of M&T Bank in the third quarter worth about $32,000. Elyxium Wealth LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth about $33,000. Ameriflex Group Inc. raised its position in shares of M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 84 shares during the period. Bank of Jackson Hole Trust lifted its holdings in shares of M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 60 shares in the last quarter. Finally, Hoese & Co LLP bought a new position in shares of M&T Bank during the 4th quarter valued at about $50,000. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Up 0.1%

MTB stock opened at $225.38 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $33.01 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.10 and a beta of 0.57. M&T Bank Corporation has a fifty-two week low of $174.76 and a fifty-two week high of $239.00. The business has a 50-day moving average of $217.24 and a 200-day moving average of $213.64.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.43 billion. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.During the same quarter last year, the firm earned $3.32 EPS. On average, sell-side analysts anticipate that M&T Bank Corporation will post 18.81 earnings per share for the current fiscal year.

M&T Bank announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 31st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 16.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be issued a $1.50 dividend. The ex-dividend date is Monday, June 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is 33.59%.

Insider Activity

In other news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total value of $672,232.50. Following the sale, the executive vice president owned 6,753 shares of the company’s stock, valued at $1,462,024.50. The trade was a 31.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.44% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird boosted their price objective on M&T Bank from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Piper Sandler upped their price target on shares of M&T Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Argus upped their price target on shares of M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday. Eight investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $235.32.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.