Atria Investments Inc Has $975,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

Atria Investments Inc cut its holdings in M&T Bank Co. (NYSE:MTB) by 18.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,188 shares of the financial services provider’s stock after selling 1,156 shares during the quarter. Atria Investments Inc’s holdings in M&T Bank were worth $975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Plato Investment Management Ltd increased its stake in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the third quarter valued at $32,000. Y.D. More Investments Ltd increased its stake in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares in the last quarter. Human Investing LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at $44,000. Finally, Sierra Ocean LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

M&T Bank stock opened at $172.18 on Thursday. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $28.29 billion, a P/E ratio of 11.77, a PEG ratio of 1.38 and a beta of 0.74. The business has a 50-day moving average of $193.13 and a 200-day moving average of $191.92.

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 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 quarter in the previous year, the firm posted $2.74 EPS. On average, equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its board has authorized a stock buyback plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MTB shares. Truist Financial restated a “buy” rating and issued a $236.00 target price (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Compass Point lifted their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. 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 report on Friday, January 17th. Finally, Wells Fargo & Company lifted their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $221.68.

M&T Bank Company 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.