797 Shares in M&T Bank Co. (NYSE:MTB) Acquired by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC bought a new stake in M&T Bank Co. (NYSE:MTB) in the fourth quarter, HoldingsChannel reports. The fund bought 797 shares of the financial services provider’s stock, valued at approximately $150,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after buying an additional 1,508,846 shares during the period. State Street Corp grew its position in M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after acquiring an additional 527,854 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in M&T Bank during the third quarter worth about $44,422,000. Charles Schwab Investment Management Inc. raised its holdings in shares of M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after purchasing an additional 190,837 shares during the period. Finally, Sapient Capital LLC lifted its stake in shares of M&T Bank by 9,754.9% in the 4th quarter. Sapient Capital LLC now owns 184,287 shares of the financial services provider’s stock valued at $34,648,000 after purchasing an additional 182,417 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $197.61 on Thursday. M&T Bank Co. has a 52-week low of $130.84 and a 52-week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The firm has a market cap of $32.79 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.42 and a beta of 0.79. The business’s 50 day moving average is $196.43 and its two-hundred day moving average is $188.49.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) 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 period in the previous year, the firm earned $2.74 EPS. Analysts forecast that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

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

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

Insider Buying and Selling

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,611 shares of company stock worth $5,354,777. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

MTB has been the subject of a number of research analyst reports. Evercore ISI increased their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company increased their price target on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Finally, Compass Point boosted their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $221.68.

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.