Monument Capital Management Makes New Investment in M&T Bank Co. (NYSE:MTB)

Monument Capital Management acquired a new stake in M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,097 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTB. Plato Investment Management Ltd boosted its stake in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank in the 3rd quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in M&T Bank in the third quarter valued at about $44,000. 84.68% of the stock is owned by institutional investors.

Insider Activity

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 owns 16,429 shares in the company, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $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. Insiders sold a total of 24,611 shares of company stock valued at $5,354,777 in the last ninety days. 0.82% of the stock is owned by insiders.

M&T Bank Price Performance

MTB opened at $198.75 on Tuesday. The company has a fifty day moving average price of $195.59 and a two-hundred day moving average price of $189.02. The firm has a market capitalization of $32.98 billion, a PE ratio of 13.59, a P/E/G ratio of 1.42 and a beta of 0.79. M&T Bank Co. has a 52 week low of $133.03 and a 52 week 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 0.93.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $2.74 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank announced that its board has approved a share buyback program 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 reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MTB. Keefe, Bruyette & Woods lifted 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. DA Davidson lifted their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Barclays increased their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $221.68.

About M&T Bank

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.