M&T Bank Co. (NYSE:MTB) Shares Sold by Lodestone Wealth Management LLC

Lodestone Wealth Management LLC decreased its position in M&T Bank Co. (NYSE:MTB) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,556 shares of the financial services provider’s stock after selling 64 shares during the quarter. Lodestone Wealth Management LLC’s holdings in M&T Bank were worth $669,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Plato Investment Management Ltd grew its position in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in M&T Bank in the third quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. grew its position in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. Y.D. More Investments Ltd grew its position in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,611 shares of company stock worth $5,354,777. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTB has been the subject of several recent research reports. Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler increased their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and increased their target price for the company from $220.00 to $230.00 in a research note on Monday, November 25th. Finally, Royal Bank of Canada increased their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $221.68.

M&T Bank Trading Up 0.8 %

Shares of NYSE MTB opened at $198.75 on Friday. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The firm has a market capitalization of $32.98 billion, a PE ratio of 13.59, a PEG ratio of 1.42 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $195.84 and a two-hundred day moving average price of $188.61.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the business posted $2.74 earnings per share. As a group, analysts predict that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.72%. M&T Bank’s payout ratio is presently 36.91%.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.