M&T Bank Co. (NYSE:MTB) Holdings Decreased by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 44.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 168,797 shares of the financial services provider’s stock after selling 134,225 shares during the period. Artisan Partners Limited Partnership owned approximately 0.10% of M&T Bank worth $31,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of 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 purchasing an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. grew its position in M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock valued at $994,522,000 after purchasing an additional 252,583 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in M&T Bank in the 3rd quarter valued at approximately $44,422,000. Amundi lifted its position in M&T Bank by 43.5% in the 4th quarter. Amundi now owns 807,339 shares of the financial services provider’s stock worth $154,315,000 after buying an additional 244,709 shares in the last quarter. Finally, LGT Capital Partners LTD. acquired a new stake in shares of M&T Bank during the 4th quarter valued at $34,803,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Down 2.5 %

Shares of NYSE MTB opened at $175.21 on Friday. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. 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 has a fifty day moving average of $189.44 and a two-hundred day moving average of $192.44. The stock has a market cap of $28.78 billion, a PE ratio of 11.98, a PEG ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the company posted $2.74 earnings per share. As a group, equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

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

M&T Bank Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.08%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MTB. Wells Fargo & Company dropped their price target on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods lifted their target price on shares of 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. DA Davidson lifted their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Morgan Stanley lowered their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus target price of $218.79.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.