Beck Mack & Oliver LLC Has $4 Million Stake in M&T Bank Co. (NYSE:MTB)

Beck Mack & Oliver LLC increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,298 shares of the financial services provider’s stock after purchasing an additional 100 shares during the quarter. Beck Mack & Oliver LLC’s holdings in M&T Bank were worth $4,004,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. Y.D. More Investments Ltd raised its holdings in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC purchased a new stake in shares of M&T Bank during the 4th quarter worth about $44,000. Sierra Ocean LLC purchased a new stake in shares of M&T Bank during the 4th quarter worth about $44,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank during the 4th quarter valued at about $52,000. Finally, Principal Securities Inc. grew its stake in shares of M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after buying an additional 132 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

NYSE MTB opened at $160.09 on Friday. The company’s fifty day moving average is $177.25 and its two-hundred day moving average is $191.10. M&T Bank Co. has a 52-week low of $139.56 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm has a market capitalization of $26.30 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. 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 business earned $3.09 earnings per share. Equities research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.37%. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

M&T Bank declared that its Board of Directors has initiated a share buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on MTB. Royal Bank of Canada decreased their target price on shares of M&T Bank from $208.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday. DA Davidson decreased their price objective on shares of M&T Bank from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Tuesday. Citigroup cut their target price on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Wells Fargo & Company decreased their price target on M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Morgan Stanley cut their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $208.14.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

About M&T Bank

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.