Townsquare Capital LLC Increases Stock Holdings in M&T Bank Co. (NYSE:MTB)

Townsquare Capital LLC grew its holdings in M&T Bank Co. (NYSE:MTB) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,414 shares of the financial services provider’s stock after acquiring an additional 122 shares during the quarter. Townsquare Capital LLC’s holdings in M&T Bank were worth $266,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its stake in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth $44,000. Sierra Ocean LLC purchased a new stake in shares of M&T Bank during the fourth quarter valued at $44,000. Loomis Sayles & Co. L P acquired a new position in shares of M&T Bank in the 4th quarter valued at $52,000. Finally, Principal Securities Inc. raised its stake in M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 132 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Up 3.3 %

MTB stock opened at $161.96 on Wednesday. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a 50-day simple moving average of $175.73 and a 200-day simple moving average of $191.00. The stock has a market capitalization of $26.61 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the previous year, the company earned $3.09 EPS. Equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has initiated 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 purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.33%. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of research reports. Morgan Stanley cut their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on shares of M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a research note on Tuesday, April 15th. Citigroup reduced their target price on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Piper Sandler lowered their price target on shares of M&T Bank from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $208.14.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.