4,783 Shares in M&T Bank Co. (NYSE:MTB) Acquired by Alerus Financial NA

Alerus Financial NA bought a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,783 shares of the financial services provider's stock, valued at approximately $899,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd increased its stake in shares of 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 worth $39,000 after buying an additional 114 shares during the period. Human Investing LLC purchased a new stake in shares of M&T Bank during the fourth quarter worth about $44,000. Sierra Ocean LLC bought a new stake in shares of M&T Bank in the fourth quarter worth about $44,000. Loomis Sayles & Co. L P purchased a new position in M&T Bank during the 4th quarter valued at about $52,000. Finally, 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 buying an additional 132 shares during the period. Institutional investors own 84.68% of the company's stock.

M&T Bank Stock Down 1.2 %

Shares of NYSE MTB traded down $2.15 during midday trading on Tuesday, hitting $176.60. The stock had a trading volume of 353,360 shares, compared to its average volume of 1,087,342. The business's 50 day moving average is $189.08 and its 200-day moving average is $192.90. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. 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 company has a market cap of $29.01 billion, a P/E ratio of 12.08, a PEG ratio of 1.38 and a beta of 0.74.

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M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data 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 return on equity of 10.12% and a net margin of 19.24%. During the same period in the previous year, the firm posted $2.74 EPS. As a group, analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is 36.91%.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup decreased their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Wells Fargo & Company dropped their target price on shares of M&T Bank from $205.00 to $185.00 and set an "underweight" rating for the company in a research report on Friday. Evercore ISI reduced their price target on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, DA Davidson lifted their price objective on M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank currently has a consensus rating of "Hold" and a consensus target price of $218.79.

M&T Bank Company 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.