Silver Oak Securities Incorporated Has $638,000 Stake in M&T Bank Co. (NYSE:MTB)

Silver Oak Securities Incorporated grew its position in M&T Bank Co. (NYSE:MTB) by 246.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,385 shares of the financial services provider’s stock after buying an additional 2,407 shares during the quarter. Silver Oak Securities Incorporated’s holdings in M&T Bank were worth $638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after acquiring an additional 1,508,846 shares during the last quarter. State Street Corp boosted its stake in shares of M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after purchasing an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after purchasing an additional 190,837 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after buying an additional 66,337 shares during the period. Finally, Senvest Management LLC raised its holdings in M&T Bank by 12.3% in the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after buying an additional 96,500 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MTB. Keefe, Bruyette & Woods boosted their target price on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Compass Point increased their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. DA Davidson increased their price target 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. Finally, Evercore ISI raised their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $221.68.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,397 shares of company stock worth $6,379,459. 0.82% of the stock is owned by corporate insiders.

M&T Bank Trading Down 0.7 %

MTB opened at $200.59 on Friday. The company has a market cap of $33.28 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79. The company has a fifty day moving average price of $197.49 and a two-hundred day moving average price of $187.72. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 1-year low of $129.36 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $2.74 EPS. Analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s payout ratio is currently 36.91%.

M&T Bank announced that its board has approved a share repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

About M&T Bank

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.