M&T Bank Co. (NYSE:MTB) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in M&T Bank Co. (NYSE:MTB) by 16.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,088,949 shares of the financial services provider’s stock after purchasing an additional 155,374 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.66% of M&T Bank worth $204,733,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Sanctuary Advisors LLC raised its stake in shares of M&T Bank by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,195,000 after acquiring an additional 52 shares during the period. Quadrant Capital Group LLC raised its stake in shares of M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 53 shares during the period. Catalina Capital Group LLC raised its stake in shares of M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after acquiring an additional 56 shares during the period. Parallel Advisors LLC raised its stake in shares of M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 60 shares during the period. Finally, Forum Financial Management LP raised its stake in shares of M&T Bank by 2.2% in the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Trading Up 0.3%

Shares of NYSE:MTB opened at $180.52 on Friday. The company has a 50 day moving average of $172.02 and a 200-day moving average of $189.04. The firm has a market cap of $28.98 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $3.09 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.99%. M&T Bank’s dividend payout ratio is currently 36.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company cut their target price on shares of M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Cowen assumed coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $212.53.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

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.