Natixis Advisors L.P. Sells 3,934 Shares of M&T Bank Co. (NYSE:MTB)

Natixis Advisors L.P. cut its position in shares of M&T Bank Co. (NYSE:MTB) by 3.2% in the fourth quarter, HoldingsChannel reports. The firm owned 117,480 shares of the financial services provider’s stock after selling 3,934 shares during the period. Natixis Advisors L.P.’s holdings in M&T Bank were worth $16,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of M&T Bank in the 3rd quarter valued at about $833,000. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of M&T Bank by 8.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after buying an additional 305 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of M&T Bank in the 3rd quarter worth approximately $299,000. Stevens Capital Management LP bought a new position in shares of M&T Bank during the 4th quarter worth approximately $320,000. Finally, Metis Global Partners LLC lifted its position in M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 931 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 1.8 %

Shares of M&T Bank stock opened at $149.24 on Tuesday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $149.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The company has a market cap of $24.87 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. The firm has a 50-day simple moving average of $142.08 and a two-hundred day simple moving average of $134.91.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the company posted $4.09 EPS. As a group, equities analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is presently 35.16%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MTB shares. Bank of America upped their price target on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Wells Fargo & Company increased their price target on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Morgan Stanley boosted their price target on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Finally, StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $158.48.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the sale, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,119 shares of company stock worth $6,679,812. Company insiders own 0.82% of the company’s stock.

M&T Bank 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.