9,988 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Cozad Asset Management Inc.

Cozad Asset Management Inc. purchased a new position in M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,988 shares of the financial services provider’s stock, valued at approximately $1,369,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Anchor Capital Advisors LLC grew its position in M&T Bank by 4.8% in the fourth quarter. Anchor Capital Advisors LLC now owns 419,016 shares of the financial services provider’s stock worth $57,439,000 after acquiring an additional 19,100 shares in the last quarter. Mather Group LLC. purchased a new position in shares of M&T Bank during the fourth quarter valued at approximately $305,000. HHM Wealth Advisors LLC purchased a new position in shares of M&T Bank during the fourth quarter valued at approximately $25,000. Semanteon Capital Management LP purchased a new position in shares of M&T Bank during the fourth quarter valued at approximately $221,000. Finally, Stevens Capital Management LP purchased a new position in shares of M&T Bank during the fourth quarter valued at approximately $320,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

MTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Piper Sandler decreased their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 19th. DA Davidson reaffirmed a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Bank of America lifted their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group decreased their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $144.39 on Wednesday. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.93. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $141.29 and a 200 day moving average of $134.20.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the company posted $4.09 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is presently 35.16%.

Insider Transactions at M&T Bank

In other news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,119 shares of company stock valued at $6,812,112. Corporate insiders own 0.82% of the company’s stock.

M&T Bank 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.