Vontobel Holding Ltd. Has $830,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Vontobel Holding Ltd. decreased its stake in shares of M&T Bank Co. (NYSE:MTB) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,412 shares of the financial services provider’s stock after selling 164 shares during the quarter. Vontobel Holding Ltd.’s holdings in M&T Bank were worth $830,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,611 shares of company stock worth $5,354,777 in the last ninety days. 0.82% of the stock is owned by insiders.

M&T Bank Price Performance

Shares of MTB stock opened at $200.51 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The company has a market cap of $33.27 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.42 and a beta of 0.79. The business has a fifty day simple moving average of $195.43 and a 200 day simple moving average of $189.25.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 quarter in the prior year, the company posted $2.74 earnings per share. On average, sell-side analysts forecast that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MTB shares. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and boosted their price target for the company from $220.00 to $230.00 in a research note on Monday, November 25th. DA Davidson boosted 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. Truist Financial restated a “buy” rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Finally, Evercore ISI boosted their price target on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.68.

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.