Frederick Financial Consultants LLC Takes Position in M&T Bank Co. (NYSE:MTB)

Frederick Financial Consultants LLC acquired a new position in shares of M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,188 shares of the financial services provider’s stock, valued at approximately $223,000.

Several other large investors have also added to or reduced their stakes in the stock. Y.D. More Investments Ltd boosted its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares during the period. Human Investing LLC bought a new position in M&T Bank in the 4th quarter valued at $44,000. Sierra Ocean LLC purchased a new position in shares of M&T Bank during the 4th quarter valued at $44,000. Loomis Sayles & Co. L P bought a new position in shares of M&T Bank in the fourth quarter worth $52,000. Finally, Principal Securities Inc. raised its position in shares of M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after buying an additional 132 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s 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 transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. The trade was 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. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MTB shares. JPMorgan Chase & Co. lowered their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Morgan Stanley cut their price target on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada dropped their price objective on shares of M&T Bank from $208.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, DA Davidson cut their price objective on M&T Bank from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus target price of $208.14.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $160.09 on Friday. The company’s fifty day simple moving average is $178.03 and its two-hundred day simple moving average is $191.19. M&T Bank Co. has a 12-month low of $138.38 and a 12-month high of $225.70. The firm has a market cap of $26.30 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business earned $3.09 earnings per share. As a group, equities analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

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.