Tredje AP fonden Decreases Holdings in M&T Bank Co. (NYSE:MTB)

Tredje AP fonden lowered its position in M&T Bank Co. (NYSE:MTB) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,063 shares of the financial services provider’s stock after selling 8,062 shares during the quarter. Tredje AP fonden’s holdings in M&T Bank were worth $1,516,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in M&T Bank by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares in the last quarter. Catalina Capital Group LLC lifted its holdings in M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after buying an additional 56 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in M&T Bank by 1.2% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock worth $975,000 after buying an additional 63 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in M&T Bank by 3.8% in the 4th quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock worth $336,000 after buying an additional 66 shares in the last quarter. Finally, Pitcairn Co. lifted its holdings in M&T Bank by 0.8% in the 3rd quarter. Pitcairn Co. now owns 9,362 shares of the financial services provider’s stock worth $1,668,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MTB shares. Wells Fargo & Company boosted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. Evercore ISI cut their target price on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays upped their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley cut their target price on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $222.03.

Insider Activity

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

M&T Bank Trading Up 3.1 %

Shares of M&T Bank stock opened at $175.69 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market cap of $28.86 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The business has a fifty day simple moving average of $192.44 and a 200-day simple moving average of $191.83. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $2.74 earnings per share. On average, equities analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio is 36.91%.

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

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.