Vinva Investment Management Ltd Sells 8,138 Shares of M&T Bank Co. (NYSE:MTB)

Vinva Investment Management Ltd cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 81.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,883 shares of the financial services provider’s stock after selling 8,138 shares during the quarter. Vinva Investment Management Ltd’s holdings in M&T Bank were worth $355,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its stake in shares of 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 acquiring an additional 114 shares during the period. Human Investing LLC purchased a new position in M&T Bank in the 4th quarter worth approximately $44,000. Sierra Ocean LLC purchased a new position in M&T Bank in the 4th quarter worth approximately $44,000. Principal Securities Inc. lifted its holdings in M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 132 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in M&T Bank in the 4th quarter worth approximately $92,000. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Performance

NYSE MTB opened at $178.19 on Friday. The company has a market cap of $29.27 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The business’s 50 day moving average price is $190.99 and its 200-day moving average price is $192.04. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly 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 return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the business posted $2.74 EPS. Sell-side analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its board has authorized a stock buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.03%. M&T Bank’s payout ratio is 36.91%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTB. Compass Point boosted their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. reissued 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. DA Davidson boosted their price target on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Finally, Barclays upped 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $222.03.

M&T Bank 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.