Summit Trail Advisors LLC Makes New $290,000 Investment in M&T Bank Co. (NYSE:MTB)

Summit Trail Advisors LLC purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,540 shares of the financial services provider’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hedeker Wealth LLC boosted its position in M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after acquiring an additional 55 shares in the last quarter. Catalina Capital Group LLC lifted its stake in shares of M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 56 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in M&T Bank by 1.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 57 shares in the last quarter. Crestwood Advisors Group LLC grew its stake in M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 57 shares during the last quarter. Finally, Meitav Investment House Ltd. raised its holdings in M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 69 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the completion of the sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $7,715,126. This trade represents a 36.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,611 shares of company stock valued at $5,354,777. 0.82% of the stock is currently owned by company insiders.

M&T Bank Stock Down 0.8 %

Shares of NYSE:MTB opened at $197.61 on Thursday. M&T Bank Co. has a 52-week low of $130.84 and a 52-week high of $225.70. The stock has a market cap of $32.79 billion, a P/E ratio of 13.51, a PEG ratio of 1.42 and a beta of 0.79. The business has a fifty day moving average of $196.43 and a two-hundred day moving average of $188.49. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the company earned $2.74 earnings per share. On average, research analysts expect that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank declared that its board has authorized a share buyback program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.73%. M&T Bank’s dividend payout ratio is currently 36.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MTB. Wells Fargo & Company lifted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. DA Davidson lifted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Evercore ISI increased their price objective on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays raised their price objective on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Bank of America upped their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $221.68.

M&T Bank Company 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.