Savant Capital LLC Sells 481 Shares of M&T Bank Co. (NYSE:MTB)

Savant Capital LLC decreased its position in M&T Bank Co. (NYSE:MTB) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,726 shares of the financial services provider’s stock after selling 481 shares during the quarter. Savant Capital LLC’s holdings in M&T Bank were worth $4,273,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its stake 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 in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $44,000. Flagship Harbor Advisors LLC boosted its position in M&T Bank by 89.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 1,295 shares during the period. Principal Financial Group Inc. boosted its position in M&T Bank by 1.4% during the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after purchasing an additional 2,797 shares during the period. Finally, Smead Capital Management Inc. boosted its position in M&T Bank by 3.5% during the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after purchasing an additional 16,657 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,611 shares of company stock worth $5,354,777. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and upped their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Compass Point upped their target price on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada upped their target price on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. One investment 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 stock currently has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $199.08 on Wednesday. The business has a fifty day simple moving average of $196.74 and a 200 day simple moving average of $188.32. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $33.03 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a one year low of $130.84 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last issued 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 last year, the business earned $2.74 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 16.56 EPS for the current year.

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

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.71%. M&T Bank’s payout ratio is 36.91%.

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.