TIAA Trust National Association Has $1.16 Million Stake in M&T Bank Co. (NYSE:MTB)

TIAA Trust National Association grew its position in M&T Bank Co. (NYSE:MTB) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,190 shares of the financial services provider’s stock after buying an additional 70 shares during the quarter. TIAA Trust National Association’s holdings in M&T Bank were worth $1,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC bought a new position in M&T Bank in the fourth quarter valued at about $44,000. Sierra Ocean LLC acquired a new position in M&T Bank during the fourth quarter worth about $44,000. Principal Securities Inc. lifted its holdings in shares of M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 132 shares during the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of M&T Bank in the 4th quarter valued at approximately $92,000. Institutional investors 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 the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Stock Down 1.4 %

M&T Bank stock opened at $179.64 on Friday. The company has a market capitalization of $29.51 billion, a PE ratio of 12.28, a PEG ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The firm’s fifty day moving average is $189.87 and its 200 day moving average is $192.40. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the company earned $2.74 EPS. As a group, sell-side analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays upped their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Citigroup cut their target price on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $219.97.

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