Siemens Fonds Invest GmbH Has $600,000 Position in M&T Bank Co. (NYSE:MTB)

Siemens Fonds Invest GmbH increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 78.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,202 shares of the financial services provider’s stock after acquiring an additional 1,412 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in M&T Bank were worth $600,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MTB. Barclays PLC lifted its holdings in shares of M&T Bank by 11.9% during the third quarter. Barclays PLC now owns 578,266 shares of the financial services provider’s stock worth $102,999,000 after purchasing an additional 61,375 shares during the period. Park Avenue Securities LLC raised its position in M&T Bank by 14.1% during the 4th quarter. Park Avenue Securities LLC now owns 6,547 shares of the financial services provider’s stock worth $1,231,000 after purchasing an additional 807 shares during the last quarter. Burney Co. lifted its holdings in M&T Bank by 70.4% during the 4th quarter. Burney Co. now owns 3,824 shares of the financial services provider’s stock worth $719,000 after buying an additional 1,580 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 2,018 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of M&T Bank by 21.3% in the fourth quarter. Ritholtz Wealth Management now owns 4,484 shares of the financial services provider’s stock valued at $843,000 after buying an additional 787 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTB. Deutsche Bank Aktiengesellschaft raised M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Thursday, April 24th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley decreased their price objective on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their target price on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Finally, TD Cowen began coverage on shares of M&T Bank in a research report on Thursday. They set a “buy” rating and a $230.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average price target of $209.33.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $187.78 on Friday. The business has a 50-day simple moving average of $171.22 and a 200 day simple moving average of $189.27. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm has a market capitalization of $30.14 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $3.09 EPS. On average, research 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.88%. The ex-dividend date was Monday, March 3rd. M&T Bank’s payout ratio is currently 36.17%.

M&T Bank declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.