M&T Bank Co. (NYSE:MTB) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 7.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 349,198 shares of the financial services provider’s stock after selling 29,324 shares during the quarter. M&T Bank accounts for about 1.9% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Anchor Capital Advisors LLC’s holdings in M&T Bank were worth $65,653,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MTB. Plato Investment Management Ltd grew its stake in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in M&T Bank in the third quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Y.D. More Investments Ltd lifted its position in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of M&T Bank in the third quarter valued at $44,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MTB. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their price target on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Compass Point lifted their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Barclays increased their target price on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus target price of $221.68.

M&T Bank Trading Down 0.1 %

NYSE MTB opened at $189.50 on Friday. The firm has a market capitalization of $31.14 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The company has a 50-day simple moving average of $194.98 and a 200-day simple moving average of $190.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the company earned $2.74 earnings per share. On average, equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.85%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio is presently 36.91%.

M&T Bank announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is currently 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.