Abacus Planning Group Inc. Invests $407,000 in M&T Bank Co. (MTB) Stock

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Abacus Planning Group Inc. purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 145,000 shares of the financial services provider’s stock, valued at approximately $407,000. Abacus Planning Group Inc. owned approximately 0.10% of M&T Bank as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Achmea Investment Management B.V. lifted its position in shares of M&T Bank by 63.5% during the fourth quarter. Achmea Investment Management B.V. now owns 20,504 shares of the financial services provider’s stock worth $2,935,000 after purchasing an additional 7,965 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of M&T Bank by 54.4% during the fourth quarter. Nomura Holdings Inc. now owns 21,120 shares of the financial services provider’s stock worth $3,013,000 after purchasing an additional 7,438 shares in the last quarter. RMB Capital Management LLC lifted its position in shares of M&T Bank by 65.8% during the fourth quarter. RMB Capital Management LLC now owns 7,541 shares of the financial services provider’s stock worth $1,079,000 after purchasing an additional 2,994 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of M&T Bank by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock worth $287,704,000 after purchasing an additional 95,142 shares in the last quarter. Finally, Kinneret Advisory LLC acquired a new position in shares of M&T Bank during the fourth quarter worth $232,000. 78.95% of the stock is currently owned by hedge funds and other institutional investors.

MTB opened at $172.17 on Thursday. The firm has a market capitalization of $23.59 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $194.35.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 17th. The financial services provider reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.27. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same period in the prior year, the company posted $2.66 earnings per share. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $4.00 annualized dividend and a yield of 2.32%. M&T Bank’s payout ratio is 31.10%.

In other M&T Bank news, CFO Darren J. King sold 10,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $164.56, for a total transaction of $1,645,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary N. Geisel sold 1,001 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.00, for a total transaction of $173,173.00. Following the sale, the director now owns 17,512 shares of the company’s stock, valued at approximately $3,029,576. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,766 shares of company stock valued at $2,111,968. 0.54% of the stock is owned by insiders.

A number of research analysts have recently commented on MTB shares. Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 target price on the stock in a research report on Friday, January 18th. ValuEngine cut shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Morgan Stanley cut their price target on shares of M&T Bank from $175.00 to $173.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 8th. Wedbush set a $165.00 price target on shares of M&T Bank and gave the company a “hold” rating in a report on Friday, January 18th. Finally, UBS Group raised shares of M&T Bank from a “sell” rating to a “neutral” rating in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $180.27.

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About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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