M&T Bank Co. (NYSE:MTB) Shares Bought by Stifel Financial Corp

Stifel Financial Corp grew its stake in M&T Bank Co. (NYSE:MTB) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 394,413 shares of the financial services provider’s stock after purchasing an additional 789 shares during the period. Stifel Financial Corp owned about 0.24% of M&T Bank worth $74,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC increased its stake in shares of M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,195,000 after acquiring an additional 52 shares during the last quarter. Quadrant Capital Group LLC raised its stake in M&T Bank by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 53 shares during the period. Catalina Capital Group LLC boosted its holdings in shares of M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of M&T Bank by 1.7% during the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after buying an additional 60 shares during the period. Finally, Forum Financial Management LP increased its holdings in shares of M&T Bank by 2.2% during the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider’s stock worth $540,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

MTB has been the subject of a number of research reports. Royal Bank of Canada lowered their price target on M&T Bank from $208.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Citigroup decreased their price objective on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley reduced their target price on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $208.14.

M&T Bank Stock Up 3.3 %

Shares of NYSE MTB opened at $161.96 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a market cap of $26.61 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 12-month low of $139.78 and a 12-month high of $225.70. The firm’s 50-day simple moving average is $175.73 and its 200 day simple moving average is $191.00.

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 the consensus estimate 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 quarter in the previous year, the firm earned $3.09 EPS. On average, research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has initiated a share repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.33%. M&T Bank’s dividend payout ratio is 36.17%.

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.