Metis Global Partners LLC Increases Stock Holdings in M&T Bank Co. (NYSE:MTB)

Metis Global Partners LLC raised its stake in M&T Bank Co. (NYSE:MTB) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,121 shares of the financial services provider’s stock after acquiring an additional 299 shares during the period. Metis Global Partners LLC’s holdings in M&T Bank were worth $1,339,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE increased its stake in M&T Bank by 24.3% in the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock valued at $1,576,000 after purchasing an additional 1,639 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of M&T Bank by 33.8% during the fourth quarter. Fisher Asset Management LLC now owns 21,387 shares of the financial services provider’s stock worth $4,021,000 after acquiring an additional 5,408 shares during the last quarter. Sage Investment Counsel LLC purchased a new position in shares of M&T Bank during the fourth quarter worth approximately $345,000. Mutual of America Capital Management LLC grew its position in shares of M&T Bank by 11.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 42,923 shares of the financial services provider’s stock worth $8,070,000 after acquiring an additional 4,529 shares during the last quarter. Finally, Private Trust Co. NA grew its position in shares of M&T Bank by 16.7% during the fourth quarter. Private Trust Co. NA now owns 553 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 79 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTB has been the topic of a number of research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Compass Point raised their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their target price 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $221.68.

M&T Bank Price Performance

M&T Bank stock opened at $188.50 on Tuesday. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The business has a fifty day moving average of $195.01 and a two-hundred day moving average of $191.53. The company has a market cap of $30.98 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79.

M&T Bank (NYSE:MTB) last released 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. As a group, analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

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

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.