3,467 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Teza Capital Management LLC

Teza Capital Management LLC acquired a new stake in shares of M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,467 shares of the financial services provider’s stock, valued at approximately $652,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC raised its position in M&T Bank by 89.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,295 shares during the period. US Bancorp DE raised its position in M&T Bank by 24.3% during the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock valued at $1,576,000 after purchasing an additional 1,639 shares during the period. Summit Trail Advisors LLC purchased a new stake in M&T Bank during the fourth quarter valued at approximately $290,000. Valeo Financial Advisors LLC purchased a new stake in M&T Bank during the fourth quarter valued at approximately $297,000. Finally, Van ECK Associates Corp raised its position in M&T Bank by 1,262.9% during the fourth quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider’s stock valued at $4,169,000 after purchasing an additional 20,548 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Down 0.2%

Shares of NYSE:MTB opened at $187.29 on Tuesday. M&T Bank Co. has a 52-week low of $139.78 and a 52-week high of $225.70. The stock has a market cap of $30.06 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The business’s 50 day moving average is $171.53 and its 200 day moving average is $189.20. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company earned $3.09 EPS. Sell-side analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.88%. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

M&T Bank announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 12.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent research reports. Barclays decreased their price objective on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 15th. Truist Financial decreased their price objective on M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their price objective on M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Thursday, April 24th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.33.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

M&T Bank 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.