Fox Run Management L.L.C. Acquires New Shares in M&T Bank Co. (NYSE:MTB)

Fox Run Management L.L.C. acquired a new position in M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,133 shares of the financial services provider's stock, valued at approximately $777,000.

Several other institutional investors have also added to or reduced their stakes in MTB. Y.D. More Investments Ltd lifted its stake in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after buying an additional 114 shares during the period. Human Investing LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at $44,000. Sierra Ocean LLC bought a new position in M&T Bank during the fourth quarter worth $44,000. Principal Securities Inc. boosted its stake in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after acquiring an additional 132 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in M&T Bank in the third quarter worth $91,000. 84.68% of the stock is currently owned by institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the 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 approximately $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a report on Friday. Barclays raised their price objective on M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Citigroup lowered 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. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley lowered their price objective on shares of 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 analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $218.79.

M&T Bank Stock Performance

MTB stock traded down $4.46 during midday trading on Friday, hitting $175.21. The company's stock had a trading volume of 1,084,938 shares, compared to its average volume of 1,089,406. The stock has a market cap of $28.78 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.38 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The stock's 50-day moving average price is $189.44 and its 200 day moving average price is $192.44. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the prior year, the company posted $2.74 EPS. On average, equities 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 stock repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.91%.

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.