Pacer Advisors Inc. Has $3.55 Million Position in M&T Bank Co. (NYSE:MTB)

Pacer Advisors Inc. lifted its holdings in M&T Bank Co. (NYSE:MTB) by 52.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,873 shares of the financial services provider’s stock after purchasing an additional 6,475 shares during the quarter. Pacer Advisors Inc.’s holdings in M&T Bank were worth $3,548,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after buying an additional 1,508,846 shares during the period. State Street Corp lifted its position in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after acquiring an additional 527,854 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in M&T Bank in the 3rd quarter worth $44,422,000. Charles Schwab Investment Management Inc. increased its holdings in M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after purchasing an additional 190,837 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of M&T Bank by 30.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 599,995 shares of the financial services provider’s stock valued at $106,871,000 after purchasing an additional 141,337 shares during the period. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays increased their price objective 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. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their price target for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $221.68.

Insider Activity

In other M&T Bank news, 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 transaction of $468,210.75. Following the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kirk W. Walters sold 1,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total transaction of $334,249.80. Following the completion of the sale, the director now directly owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. The trade was a 43.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,987 shares of company stock valued at $6,713,709. 0.82% of the stock is owned by insiders.

M&T Bank Trading Up 0.9 %

Shares of M&T Bank stock opened at $202.18 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. The business has a fifty day simple moving average of $199.97 and a two-hundred day simple moving average of $186.38. M&T Bank Co. has a 1 year low of $128.31 and a 1 year high of $225.70. The company has a market capitalization of $33.55 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.37 and a beta of 0.79.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the firm posted $2.74 earnings per share. Research analysts forecast that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is presently 36.91%.

M&T Bank announced that its board has initiated a stock repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.