2,896 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new position in shares of M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,896 shares of the financial services provider’s stock, valued at approximately $397,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Burns J W & Co. Inc. NY grew its position in M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after buying an additional 80 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in M&T Bank by 3.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 80 shares in the last quarter. Robinson Value Management Ltd. boosted its holdings in M&T Bank by 0.3% during the third quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock valued at $4,241,000 after purchasing an additional 85 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in M&T Bank by 41.7% during the third quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. Finally, CI Investments Inc. boosted its holdings in M&T Bank by 2.9% during the third quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 104 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of recent research reports. Evercore ISI lifted their price objective on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Bank of America lifted their target price on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Piper Sandler dropped their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $158.48.

M&T Bank Stock Performance

Shares of NYSE:MTB traded up $2.66 on Monday, reaching $149.24. 876,230 shares of the company’s stock were exchanged, compared to its average volume of 1,154,345. The company has a fifty day moving average of $142.08 and a 200-day moving average of $134.91. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $149.29. The company has a market capitalization of $24.87 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.23 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the business posted $4.09 EPS. On average, research analysts predict that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.48%. M&T Bank’s dividend payout ratio is 35.16%.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the transaction, the executive vice president now owns 5,000 shares of the company’s stock, valued at approximately $718,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,119 shares of company stock worth $6,679,812. Corporate insiders own 0.82% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.