Signaturefd LLC Grows Stock Holdings in M&T Bank Co. (NYSE:MTB)

Signaturefd LLC lifted its stake in M&T Bank Co. (NYSE:MTB) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,989 shares of the financial services provider’s stock after purchasing an additional 94 shares during the quarter. Signaturefd LLC’s holdings in M&T Bank were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC grew its stake in shares of M&T Bank by 9.7% in the third quarter. Empowered Funds LLC now owns 2,767 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 245 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in M&T Bank by 33.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 87,626 shares of the financial services provider’s stock worth $15,608,000 after purchasing an additional 21,881 shares in the last quarter. Pathstone Holdings LLC grew its position in M&T Bank by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 28,625 shares of the financial services provider’s stock valued at $5,099,000 after purchasing an additional 185 shares during the last quarter. Caprock Group LLC increased its stake in M&T Bank by 10.8% during the 3rd quarter. Caprock Group LLC now owns 10,731 shares of the financial services provider’s stock valued at $1,911,000 after purchasing an additional 1,048 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in M&T Bank in the third quarter worth about $1,564,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Down 0.1 %

NYSE:MTB opened at $176.93 on Friday. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The business has a fifty day moving average price of $191.19 and a 200-day moving average price of $192.00. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate 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 in the prior year, the company earned $2.74 EPS. Sell-side analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its board has authorized a share repurchase program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.05%. M&T Bank’s payout ratio is currently 36.91%.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Compass Point increased their target price on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays increased their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Evercore ISI lowered their target price on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and an average target price of $222.03.

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.