Principal Securities Inc. Buys 132 Shares of M&T Bank Co. (NYSE:MTB)

Principal Securities Inc. boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 47.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 410 shares of the financial services provider’s stock after purchasing an additional 132 shares during the quarter. Principal Securities Inc.’s holdings in M&T Bank were worth $77,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Plato Investment Management Ltd raised its stake in 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 valued at $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new stake in M&T Bank during the 3rd quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Y.D. More Investments Ltd raised its stake in 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 valued at $39,000 after purchasing an additional 114 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in M&T Bank during the 3rd quarter valued at approximately $44,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $189.54 on Thursday. The stock’s fifty day moving average is $194.90 and its two-hundred day moving average is $190.70. The company has a market capitalization of $31.15 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. 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 Co. has a 52 week low of $133.03 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating 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 prior year, the firm posted $2.74 EPS. As a group, analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

MTB has been the topic of several recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Barclays lifted their price objective on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. DA Davidson lifted their price objective on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One investment 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 company currently has a consensus rating of “Hold” and an average target price of $221.68.

Insider Buying and Selling at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.82% of the stock is currently owned by corporate 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.