Cozad Asset Management Inc. Trims Holdings in M&T Bank Co. (NYSE:MTB)

Cozad Asset Management Inc. decreased its holdings in M&T Bank Co. (NYSE:MTB) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,866 shares of the financial services provider’s stock after selling 379 shares during the quarter. Cozad Asset Management Inc.’s holdings in M&T Bank were worth $1,667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Signaturefd LLC increased its stake in shares of M&T Bank by 5.0% during the fourth quarter. Signaturefd LLC now owns 1,989 shares of the financial services provider’s stock valued at $374,000 after buying an additional 94 shares during the period. Parallel Advisors LLC increased its stake in shares of M&T Bank by 1.7% during the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after buying an additional 60 shares during the period. SouthState Corp increased its stake in shares of M&T Bank by 4.8% during the fourth quarter. SouthState Corp now owns 6,436 shares of the financial services provider’s stock valued at $1,210,000 after buying an additional 297 shares during the period. GWN Securities Inc. purchased a new position in shares of M&T Bank during the fourth quarter valued at $773,000. Finally, Glenview Trust co increased its stake in shares of M&T Bank by 7.1% during the fourth quarter. Glenview Trust co now owns 4,336 shares of the financial services provider’s stock valued at $815,000 after buying an additional 286 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $175.61 on Tuesday. 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 has a market cap of $28.85 billion, a PE ratio of 12.00, a P/E/G ratio of 1.38 and a beta of 0.74. The business has a 50-day simple moving average of $192.09 and a two-hundred day simple moving average of $192.19. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

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 for the quarter, topping 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 period in the prior year, the firm earned $2.74 earnings per share. As a group, equities analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has approved a share buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the topic of several research reports. Barclays raised their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial restated a “buy” rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. DA Davidson lifted their target price on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods lifted 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. Finally, Evercore ISI cut their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. One equities 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, the stock has a consensus rating of “Hold” and an average 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.