Mackenzie Financial Corp Increases Holdings in M&T Bank Co. (NYSE:MTB)

Mackenzie Financial Corp lifted its position in M&T Bank Co. (NYSE:MTB) by 73.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,222 shares of the financial services provider’s stock after purchasing an additional 15,389 shares during the period. Mackenzie Financial Corp’s holdings in M&T Bank were worth $4,965,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Clear Street Markets LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of M&T Bank in the first quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new stake in shares of M&T Bank in the first quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new stake in M&T Bank during the fourth quarter worth $32,000. Finally, Headinvest LLC purchased a new stake in M&T Bank during the third quarter worth $29,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

NYSE MTB opened at $143.38 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The stock’s fifty day moving average price is $139.96 and its 200 day moving average price is $133.12. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.23. The company has a market cap of $23.89 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 1.20 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $4.09 earnings per share. As a group, equities research analysts forecast that M&T Bank Co. will post 13.98 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MTB shares. UBS Group upped their target price on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Royal Bank of Canada restated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Finally, Morgan Stanley upped their price target on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.