Roxbury Financial LLC Invests $112,000 in M&T Bank Co. (NYSE:MTB)

Roxbury Financial LLC acquired a new position in M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 596 shares of the financial services provider’s stock, valued at approximately $112,000.

A number of other hedge funds also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its stake in shares of M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 2,018 shares during the period. Capital Performance Advisors LLP bought a new position in M&T Bank in the third quarter worth approximately $44,000. Flagship Harbor Advisors LLC boosted its stake in shares of M&T Bank by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 1,295 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after acquiring an additional 2,797 shares during the period. Finally, Smead Capital Management Inc. increased its stake in shares of M&T Bank by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after purchasing an additional 16,657 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $217.45, for a total value of $4,349,000.00. Following the transaction, the director now directly owns 35,480 shares in the company, valued at $7,715,126. This represents a 36.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,611 shares of company stock worth $5,354,777. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Up 0.8 %

Shares of NYSE:MTB opened at $198.75 on Friday. The company has a 50-day moving average price of $195.84 and a 200 day moving average price of $188.61. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The company has a market cap of $32.98 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.42 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $2.74 earnings per share. As a group, equities research analysts predict that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank announced that its Board of Directors has authorized a share buyback 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 an indication 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. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 36.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MTB shares. Wells Fargo & Company lifted their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Barclays lifted their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group increased their target price on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada upped their price target on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Truist Financial restated a “buy” rating and issued a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $221.68.

M&T Bank Company 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.