Court Place Advisors LLC Grows Stock Holdings in M&T Bank Co. (NYSE:MTB)

Court Place Advisors LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 67.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,914 shares of the financial services provider’s stock after purchasing an additional 1,170 shares during the period. Court Place Advisors LLC’s holdings in M&T Bank were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MTB. Clear Street Markets LLC acquired a new stake in M&T Bank during the 4th quarter worth $25,000. RVW Wealth LLC acquired a new stake in M&T Bank during the 3rd quarter worth $27,000. Quarry LP acquired a new stake in M&T Bank during the 1st quarter worth $27,000. Sunbelt Securities Inc. acquired a new stake in M&T Bank during the 1st quarter worth $27,000. Finally, Headinvest LLC acquired a new stake in M&T Bank during the 3rd quarter worth $29,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

MTB stock traded up $1.65 during trading on Wednesday, reaching $139.04. 1,169,634 shares of the company were exchanged, compared to its average volume of 1,216,571. The company has a market cap of $23.17 billion, a P/E ratio of 9.29, a PEG ratio of 1.30 and a beta of 0.80. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.23. The stock’s 50 day moving average price is $139.44 and its 200 day moving average price is $132.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the prior year, the firm posted $4.09 EPS. As a group, analysts predict that M&T Bank Co. will post 13.89 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MTB shares. Evercore ISI lifted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research note on Tuesday. Piper Sandler dropped their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, UBS Group lifted their price objective on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.98.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock valued at $5,114,624 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

About M&T Bank

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.