M&T Bank Co. (NYSE:MTB) Stake Trimmed by Private Advisor Group LLC

Private Advisor Group LLC cut its holdings in shares of M&T Bank Co. (NYSE:MTB) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,171 shares of the financial services provider’s stock after selling 1,084 shares during the quarter. Private Advisor Group LLC’s holdings in M&T Bank were worth $4,920,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MTB. Plato Investment Management Ltd boosted its position in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new stake in M&T Bank during the 3rd quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the period. Y.D. More Investments Ltd boosted its position in M&T Bank by 122.6% during the 4th 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 during the period. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank during the 3rd quarter worth about $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays raised their price objective on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Evercore ISI lifted their price target on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $230.00 in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $221.68.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $193.48 on Friday. 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 business’s 50 day moving average is $195.09 and its two-hundred day moving average is $190.08. The company has a market cap of $31.80 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $2.74 EPS. On average, equities analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

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

Insiders Place Their Bets

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

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.