Menora Mivtachim Holdings LTD. Raises Stock Position in M&T Bank Co. (NYSE:MTB)

Menora Mivtachim Holdings LTD. boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 773,119 shares of the financial services provider’s stock after acquiring an additional 46,150 shares during the period. Menora Mivtachim Holdings LTD. owned 0.47% of M&T Bank worth $145,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. MML Investors Services LLC grew its stake in M&T Bank by 13.4% during the 3rd quarter. MML Investors Services LLC now owns 6,852 shares of the financial services provider’s stock worth $1,220,000 after buying an additional 809 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in M&T Bank in the third quarter worth about $332,000. Barclays PLC grew its stake in shares of M&T Bank by 11.9% during the third quarter. Barclays PLC now owns 578,266 shares of the financial services provider’s stock worth $102,999,000 after acquiring an additional 61,375 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of M&T Bank by 10.1% during the third quarter. Coldstream Capital Management Inc. now owns 3,690 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 337 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of M&T Bank by 14.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,767 shares of the financial services provider’s stock valued at $2,808,000 after purchasing an additional 2,018 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MTB shares. Morgan Stanley cut their price target on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Citigroup cut their target price on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Barclays lifted their price target on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. DA Davidson increased their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $215.97.

M&T Bank Stock Down 0.0 %

MTB opened at $157.82 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a twelve month low of $133.08 and a twelve month high of $225.70. The company has a market cap of $25.93 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a 50-day moving average price of $181.27 and a 200 day moving average price of $191.77.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 quarter in the previous year, the company posted $2.74 EPS. Sell-side analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank announced that its board has authorized a stock buyback 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 buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’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 transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.53% of the company’s stock.

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.