LSV Asset Management Decreases Stock Holdings in M&T Bank Co. (NYSE:MTB)

LSV Asset Management lessened its holdings in M&T Bank Co. (NYSE:MTB) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,099,982 shares of the financial services provider’s stock after selling 8,570 shares during the period. LSV Asset Management owned about 0.66% of M&T Bank worth $150,786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of M&T Bank during the third quarter worth about $833,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in M&T Bank by 8.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 305 shares during the period. NBC Securities Inc. acquired a new stake in M&T Bank in the third quarter valued at approximately $299,000. Stevens Capital Management LP purchased a new stake in shares of M&T Bank during the fourth quarter valued at approximately $320,000. Finally, Metis Global Partners LLC lifted its position in shares of M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

MTB traded up $0.31 on Friday, reaching $146.58. The company had a trading volume of 531,891 shares, compared to its average volume of 1,021,836. M&T Bank Co. has a one year low of $108.53 and a one year high of $148.93. The company has a market capitalization of $24.42 billion, a P/E ratio of 9.91, a PEG ratio of 1.22 and a beta of 0.78. The company has a fifty day moving average of $141.64 and a 200-day moving average of $134.37. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business earned $4.09 earnings per share. As a group, equities research analysts anticipate that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is presently 35.16%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Morgan Stanley raised their price objective on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $158.48.

Insider Activity

In related news, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at $464,662.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The disclosure for this sale can be found here. Insiders sold a total of 46,119 shares of company stock worth $6,679,812 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.