M&T Bank Co. (NYSE:MTB) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. trimmed its holdings in M&T Bank Co. (NYSE:MTB) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,768 shares of the financial services provider’s stock after selling 83 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in M&T Bank were worth $520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AE Wealth Management LLC boosted its stake in M&T Bank by 37.6% during the second quarter. AE Wealth Management LLC now owns 2,157 shares of the financial services provider’s stock worth $326,000 after buying an additional 589 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of M&T Bank by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 11,882 shares of the financial services provider’s stock worth $1,798,000 after acquiring an additional 525 shares during the period. Sei Investments Co. boosted its position in shares of M&T Bank by 32.1% during the 2nd quarter. Sei Investments Co. now owns 68,822 shares of the financial services provider’s stock valued at $10,417,000 after acquiring an additional 16,730 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of M&T Bank by 8.4% in the second quarter. Public Sector Pension Investment Board now owns 28,295 shares of the financial services provider’s stock valued at $4,283,000 after purchasing an additional 2,202 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in M&T Bank by 61.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 31,910 shares of the financial services provider’s stock worth $4,830,000 after purchasing an additional 12,096 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Up 0.7 %

Shares of NYSE MTB opened at $196.96 on Friday. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. The stock has a market cap of $32.68 billion, a P/E ratio of 13.46, a PEG ratio of 1.39 and a beta of 0.79. 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 business’s fifty day simple moving average is $201.43 and its 200-day simple moving average is $184.73.

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 prior year, the firm earned $2.74 earnings per share. As a group, equities analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

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

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio is presently 36.91%.

Insider Activity

In other news, EVP John R. Taylor sold 1,436 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. This represents a 20.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the sale, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. The trade was a 23.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,994 shares of company stock worth $13,331,878. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MTB. Royal Bank of Canada boosted their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Company upped their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Evercore ISI raised their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price target on 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, JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $221.68.

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.