Webster Bank N. A. Trims Holdings in M&T Bank Co. (NYSE:MTB)

Webster Bank N. A. lowered its position in shares of M&T Bank Co. (NYSE:MTB) by 38.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 215 shares of the financial services provider’s stock after selling 132 shares during the quarter. Webster Bank N. A.’s holdings in M&T Bank were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MTB. Hennion & Walsh Asset Management Inc. lifted its stake in shares of M&T Bank by 34.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 2,018 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of M&T Bank in the third quarter valued at about $44,000. Principal Financial Group Inc. boosted its stake in shares of M&T Bank by 1.4% in the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after acquiring an additional 2,797 shares during the period. Smead Capital Management Inc. grew its position in shares of M&T Bank by 3.5% during the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after purchasing an additional 16,657 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in M&T Bank by 6.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock valued at $8,955,000 after purchasing an additional 2,883 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 40,502 shares of the company’s stock, valued at $7,933,531.76. The trade was a 15.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,487 shares of company stock valued at $8,578,809 in the last 90 days. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 1.1 %

Shares of NYSE MTB opened at $201.10 on Tuesday. M&T Bank Co. has a 1 year low of $128.31 and a 1 year high of $225.70. The firm has a 50-day simple moving average of $200.79 and a two-hundred day simple moving average of $185.64. The company has a market cap of $33.37 billion, a P/E ratio of 13.75, a PEG ratio of 1.37 and a beta of 0.79. 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 (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company posted $2.74 earnings per share. Research analysts anticipate that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank declared that its board has approved a share repurchase 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 buy up to 12.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s payout ratio is presently 36.91%.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of research analyst reports. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada increased their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Piper Sandler lifted 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. Finally, Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and raised their price target for the company from $220.00 to $230.00 in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.