M&T Bank Co. (NYSE:MTB) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. increased its stake in M&T Bank Co. (NYSE:MTB) by 52.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,158 shares of the financial services provider’s stock after acquiring an additional 744 shares during the period. Atomi Financial Group Inc.’s holdings in M&T Bank were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. AE Wealth Management LLC grew its stake in shares of M&T Bank by 37.6% during the 2nd quarter. AE Wealth Management LLC now owns 2,157 shares of the financial services provider’s stock valued at $326,000 after buying an additional 589 shares during the period. Pacer Advisors Inc. boosted its holdings in M&T Bank by 4.6% in the second quarter. Pacer Advisors Inc. now owns 11,882 shares of the financial services provider’s stock valued at $1,798,000 after acquiring an additional 525 shares during the last quarter. Sei Investments Co. grew its position in M&T Bank by 32.1% during the second quarter. Sei Investments Co. now owns 68,822 shares of the financial services provider’s stock valued at $10,417,000 after acquiring an additional 16,730 shares during the period. Public Sector Pension Investment Board increased its stake in M&T Bank by 8.4% during the second quarter. Public Sector Pension Investment Board now owns 28,295 shares of the financial services provider’s stock worth $4,283,000 after acquiring an additional 2,202 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of M&T Bank by 61.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 31,910 shares of the financial services provider’s stock worth $4,830,000 after purchasing an additional 12,096 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares in the company, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,994 shares of company stock valued at $13,331,878 over the last 90 days. 0.82% of the stock is owned by company insiders.

M&T Bank Price Performance

Shares of MTB stock opened at $198.81 on Friday. The firm has a market cap of $32.99 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.37 and a beta of 0.79. The firm has a fifty day moving average of $201.10 and a two-hundred day moving average of $184.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. M&T Bank Co. has a 1-year low of $128.31 and a 1-year 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 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 period last year, the company earned $2.74 earnings per share. As a group, research analysts anticipate that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a share buyback 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 an indication that the company’s board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MTB. Piper Sandler boosted their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday, October 4th. Finally, The Goldman Sachs Group boosted their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $221.68.

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.