Mizuho Securities USA LLC Purchases 4,897 Shares of M&T Bank Co. (NYSE:MTB)

Mizuho Securities USA LLC raised its position in M&T Bank Co. (NYSE:MTB) by 45.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,726 shares of the financial services provider’s stock after buying an additional 4,897 shares during the quarter. Mizuho Securities USA LLC’s holdings in M&T Bank were worth $2,957,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its holdings in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares during the period. Human Investing LLC bought a new position in M&T Bank in the 4th quarter valued at about $44,000. Sierra Ocean LLC bought a new position in M&T Bank in the 4th quarter valued at about $44,000. Principal Securities Inc. increased its holdings in M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after buying an additional 132 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of M&T Bank during the 3rd quarter valued at approximately $91,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Up 0.7 %

Shares of NYSE MTB opened at $178.19 on Monday. The company has a market capitalization of $29.27 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company’s 50 day moving average price is $190.99 and its 200-day moving average price is $192.35.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the company posted $2.74 EPS. Equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its board has initiated a share buyback plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.03%. M&T Bank’s payout ratio is presently 36.91%.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MTB shares. DA Davidson lifted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Compass Point lifted their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Piper Sandler lifted their price target on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $222.03.

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.