Speece Thorson Capital Group Inc. Has $14.76 Million Stake in M&T Bank Corporation $MTB

Speece Thorson Capital Group Inc. trimmed its holdings in M&T Bank Corporation (NYSE:MTB) by 22.1% in the fourth quarter, Holdings Channel reports. The fund owned 73,241 shares of the financial services provider’s stock after selling 20,780 shares during the period. M&T Bank accounts for about 3.2% of Speece Thorson Capital Group Inc.’s portfolio, making the stock its 14th biggest position. Speece Thorson Capital Group Inc.’s holdings in M&T Bank were worth $14,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. Bank of Jackson Hole Trust grew its stake in M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares during the period. Triumph Capital Management acquired a new position in shares of M&T Bank during the third quarter worth about $32,000. Ameriflex Group Inc. boosted its position in shares of M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 shares during the period. Westside Investment Management Inc. boosted its position in shares of M&T Bank by 61.8% during the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after buying an additional 76 shares during the period. Finally, Hoese & Co LLP acquired a new position in shares of M&T Bank during the fourth quarter worth about $50,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTB has been the subject of several recent research reports. Cantor Fitzgerald reduced their price objective on M&T Bank from $255.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Truist Financial set a $230.00 price objective on M&T Bank in a research report on Tuesday, January 20th. Wolfe Research cut M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Finally, The Goldman Sachs Group increased their price target on M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, April 6th. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $235.55.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $215.20 on Friday. The stock has a 50 day moving average price of $213.30 and a 200 day moving average price of $205.11. M&T Bank Corporation has a 52 week low of $165.34 and a 52 week high of $239.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 0.88. The stock has a market capitalization of $32.06 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.12 and a beta of 0.60.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.16. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.43 billion. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.During the same quarter in the prior year, the company earned $3.32 earnings per share. Analysts predict that M&T Bank Corporation will post 18.67 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $1.50 dividend. The ex-dividend date is Monday, June 1st. This represents a $6.00 annualized dividend and a yield of 2.8%. M&T Bank’s dividend payout ratio is currently 33.59%.

M&T Bank declared that its Board of Directors has authorized a share buyback program on Tuesday, March 31st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 16.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 21,193 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $235.85, for a total value of $4,998,369.05. Following the sale, the director owned 15,142 shares in the company, valued at $3,571,240.70. This represents a 58.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kirk W. Walters sold 909 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the sale, the director owned 5,976 shares in the company, valued at $1,358,763.12. This represents a 13.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,226 shares of company stock worth $7,237,259 over the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.