PFG Investments LLC Acquires Shares of 1,888 M&T Bank Co. (NYSE:MTB)

PFG Investments LLC acquired a new stake in M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,888 shares of the financial services provider’s stock, valued at approximately $259,000.

Other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in M&T Bank in the 3rd quarter valued at approximately $833,000. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 305 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of M&T Bank during the 3rd quarter worth $299,000. Metis Global Partners LLC increased its stake in shares of M&T Bank by 15.2% during the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of M&T Bank by 20.6% during the 4th quarter. AustralianSuper Pty Ltd now owns 340,661 shares of the financial services provider’s stock worth $46,698,000 after purchasing an additional 58,130 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

NYSE:MTB opened at $145.44 on Friday. The company has a market capitalization of $24.23 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 1.25 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50-day moving average of $139.09 and a 200-day moving average of $131.39. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.23.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same quarter last year, the business earned $4.57 EPS. As a group, equities research analysts anticipate that M&T Bank Co. will post 13.87 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 4th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is currently 32.95%.

Analysts Set New Price Targets

Several brokerages have recently commented on MTB. Barclays increased their price target on shares of M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research note on Friday, January 19th. DA Davidson restated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research note on Wednesday, March 6th. Piper Sandler dropped their price target 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. Finally, StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $150.17.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock worth $5,114,624 in the last quarter. 0.82% of the stock is owned by corporate insiders.

M&T Bank Company Profile

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.