Ritholtz Wealth Management Purchases 787 Shares of M&T Bank Co. (NYSE:MTB)

Ritholtz Wealth Management grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,484 shares of the financial services provider’s stock after purchasing an additional 787 shares during the quarter. Ritholtz Wealth Management’s holdings in M&T Bank were worth $843,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. American Century Companies Inc. grew its stake in M&T Bank by 7.0% in the 2nd quarter. American Century Companies Inc. now owns 61,818 shares of the financial services provider’s stock valued at $9,357,000 after buying an additional 4,067 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of M&T Bank by 28.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 7,960 shares of the financial services provider’s stock valued at $1,196,000 after purchasing an additional 1,743 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of M&T Bank by 31.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,530 shares of the financial services provider’s stock valued at $1,706,000 after purchasing an additional 2,766 shares in the last quarter. Blair William & Co. IL raised its stake in shares of M&T Bank by 26.3% during the 2nd quarter. Blair William & Co. IL now owns 6,982 shares of the financial services provider’s stock valued at $1,057,000 after purchasing an additional 1,453 shares during the period. Finally, AE Wealth Management LLC boosted its stake in M&T Bank by 37.6% in the 2nd quarter. AE Wealth Management LLC now owns 2,157 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 589 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Truist Financial reiterated 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Finally, Piper Sandler upped their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $221.68.

Insiders Place Their Bets

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The shares were 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 owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,994 shares of company stock valued at $17,211,278 in the last quarter. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 0.4 %

Shares of NYSE:MTB opened at $196.88 on Monday. The stock has a market capitalization of $32.67 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. The stock’s 50-day moving average price is $202.41 and its 200-day moving average price is $183.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same period in the previous year, the company posted $2.74 EPS. On average, equities analysts anticipate that M&T Bank Co. will post 14.58 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.74%. M&T Bank’s payout ratio is currently 39.97%.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.