AMP Capital Investors Ltd grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,662 shares of the financial services provider’s stock after buying an additional 11,481 shares during the period. AMP Capital Investors Ltd owned 0.06% of M&T Bank worth $15,501,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in MTB. Amundi Pioneer Asset Management Inc. bought a new stake in shares of M&T Bank during the fourth quarter valued at approximately $35,154,000. Pinebridge Investments L.P. raised its holdings in M&T Bank by 115.4% during the third quarter. Pinebridge Investments L.P. now owns 177,184 shares of the financial services provider’s stock worth $28,534,000 after purchasing an additional 94,919 shares in the last quarter. Bank of Montreal Can raised its holdings in M&T Bank by 24.4% during the fourth quarter. Bank of Montreal Can now owns 375,427 shares of the financial services provider’s stock worth $64,194,000 after purchasing an additional 73,689 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in M&T Bank by 45.9% during the third quarter. Russell Investments Group Ltd. now owns 206,197 shares of the financial services provider’s stock worth $33,203,000 after purchasing an additional 64,911 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in M&T Bank by 50.6% during the fourth quarter. Lazard Asset Management LLC now owns 187,467 shares of the financial services provider’s stock worth $32,054,000 after purchasing an additional 63,025 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.
In other M&T Bank news, Director Gary N. Geisel sold 1,046 shares of M&T Bank stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $170.49, for a total value of $178,332.54. Following the transaction, the director now owns 17,586 shares in the company, valued at $2,998,237.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert J. Bojdak sold 1,062 shares of M&T Bank stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $195.17, for a total transaction of $207,270.54. Following the completion of the transaction, the insider now owns 22,071 shares in the company, valued at approximately $4,307,597.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,137 shares of company stock worth $13,578,138. 0.48% of the stock is currently owned by company insiders.
M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.26. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. M&T Bank had a net margin of 23.40% and a return on equity of 10.12%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.98 earnings per share. equities analysts forecast that M&T Bank Co. will post 12.2 EPS for the current year.
M&T Bank declared that its board has authorized a stock repurchase program on Monday, February 5th that permits the company to buyback $745.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 5th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $3.00 annualized dividend and a yield of 1.54%. M&T Bank’s dividend payout ratio (DPR) is 32.33%.
MTB has been the topic of several recent analyst reports. Vining Sparks reissued a “buy” rating and set a $200.00 target price on shares of M&T Bank in a report on Monday, January 8th. Barclays boosted their target price on M&T Bank from $175.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research raised M&T Bank from a “hold” rating to a “strong-buy” rating and set a $217.00 target price on the stock in a report on Wednesday, January 24th. Jefferies Group reissued a “buy” rating and set a $201.00 target price on shares of M&T Bank in a report on Monday, January 8th. Finally, ValuEngine raised M&T Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $176.41.
M&T Bank Company Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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