Valeo Financial Advisors LLC Buys New Holdings in M&T Bank Co. (NYSE:MTB)

Valeo Financial Advisors LLC purchased a new position in shares of M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,578 shares of the financial services provider’s stock, valued at approximately $297,000.

Several other large investors have also recently bought and sold shares of the business. Plato Investment Management Ltd raised its position in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in M&T Bank in the third quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after buying an additional 114 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of M&T Bank in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MTB shares. Piper Sandler boosted their price target on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Evercore ISI raised their price target on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Finally, Barclays lifted their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $221.68.

M&T Bank Stock Performance

NYSE MTB opened at $198.75 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $195.59 and its two-hundred day moving average is $189.02. The stock has a market capitalization of $32.98 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) 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 previous year, the business earned $2.74 earnings per share. Research analysts expect that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total value of $4,349,000.00. Following the completion of the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $7,715,126. The trade was a 36.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,611 shares of company stock worth $5,354,777 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

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.