M&T Bank Co. (NYSE:MTB) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its position in M&T Bank Co. (NYSE:MTB) by 14.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,374 shares of the financial services provider’s stock after buying an additional 4,607 shares during the quarter. Mutual of America Capital Management LLC’s holdings in M&T Bank were worth $5,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. Clear Street Markets LLC acquired a new position in shares of M&T Bank in the fourth quarter worth $25,000. RVW Wealth LLC acquired a new position in M&T Bank during the 3rd quarter worth $27,000. Quarry LP purchased a new stake in M&T Bank during the 1st quarter worth about $27,000. Sunbelt Securities Inc. purchased a new position in shares of M&T Bank in the 1st quarter valued at about $27,000. Finally, Headinvest LLC purchased a new position in shares of M&T Bank in the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a research note on Monday, December 18th. JPMorgan Chase & Co. raised their price target on M&T Bank from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Evercore ISI increased 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $155.21.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $134.56 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank Co. has a one year low of $108.53 and a one year high of $148.23. The company has a 50-day simple moving average of $139.18 and a 200-day simple moving average of $132.55. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.25 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the business posted $4.57 earnings per share. On average, analysts predict that M&T Bank Co. will post 13.89 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.86%. M&T Bank’s dividend payout ratio (DPR) is 32.95%.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated 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 $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is owned by company insiders.

M&T Bank Company Profile

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.