Barrow Hanley Mewhinney & Strauss LLC Has $245.79 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Barrow Hanley Mewhinney & Strauss LLC reduced its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,307,326 shares of the financial services provider's stock after selling 19,385 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.79% of M&T Bank worth $245,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MTB. Allstate Corp acquired a new stake in M&T Bank during the fourth quarter worth $932,000. Brown Brothers Harriman & Co. increased its stake in M&T Bank by 26.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 3,572 shares of the financial services provider's stock valued at $672,000 after acquiring an additional 758 shares during the period. Alerus Financial NA acquired a new position in M&T Bank in the fourth quarter worth about $899,000. Nomura Asset Management Co. Ltd. raised its position in M&T Bank by 0.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 50,638 shares of the financial services provider's stock worth $9,520,000 after purchasing an additional 363 shares in the last quarter. Finally, Norges Bank acquired a new stake in M&T Bank during the fourth quarter valued at approximately $317,690,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Activity at M&T Bank

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

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Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods boosted their target price on shares of M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Morgan Stanley cut their price target on 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. Barclays increased their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Finally, Citigroup lowered their target price on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $218.79.

M&T Bank Stock Up 2.0 %

M&T Bank stock traded up $3.56 during midday trading on Wednesday, reaching $179.93. The stock had a trading volume of 809,389 shares, compared to its average volume of 1,090,412. M&T Bank Co. has a 1-year low of $133.03 and a 1-year 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 firm's fifty day simple moving average is $188.64 and its 200-day simple moving average is $192.95. The stock has a market capitalization of $29.56 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 last year, the firm earned $2.74 EPS. As a group, analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has initiated a stock repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Monday, March 3rd. M&T Bank's payout ratio is 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.