Coldstream Capital Management Inc. Buys 679 Shares of M&T Bank Co. (NYSE:MTB)

Coldstream Capital Management Inc. increased its stake in M&T Bank Co. (NYSE:MTB) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,369 shares of the financial services provider’s stock after acquiring an additional 679 shares during the period. Coldstream Capital Management Inc.’s holdings in M&T Bank were worth $821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kovitz Investment Group Partners LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at about $545,000. Hancock Whitney Corp lifted its stake in shares of M&T Bank by 11.6% in the 4th quarter. Hancock Whitney Corp now owns 11,425 shares of the financial services provider’s stock valued at $2,148,000 after acquiring an additional 1,186 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of M&T Bank by 827.7% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 53,303 shares of the financial services provider’s stock valued at $10,021,000 after acquiring an additional 47,557 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of M&T Bank by 117.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 74,007 shares of the financial services provider’s stock valued at $13,914,000 after acquiring an additional 39,917 shares during the last quarter. Finally, Coppell Advisory Solutions LLC lifted its stake in shares of M&T Bank by 1,031.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 464 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 423 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MTB shares. Royal Bank of Canada reduced their price target on M&T Bank from $208.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Evercore ISI reduced their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Barclays reduced their price target on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 15th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $208.24.

M&T Bank Stock Performance

M&T Bank stock opened at $168.72 on Tuesday. 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 capitalization of $27.72 billion, a P/E ratio of 11.53, a PEG ratio of 1.38 and a beta of 0.58. The stock’s 50 day moving average is $173.21 and its 200 day moving average is $190.75. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations 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 company earned $3.09 EPS. On average, equities research analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.20%. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

M&T Bank declared that its board has authorized a stock 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

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.