M&T Bank Co. (NYSE:MTB) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its position in M&T Bank Co. (NYSE:MTB - Free Report) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,562 shares of the financial services provider's stock after selling 2,590 shares during the period. Bessemer Group Inc.'s holdings in M&T Bank were worth $7,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its position in M&T Bank by 34.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider's stock worth $1,473,000 after acquiring an additional 2,018 shares during the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of M&T Bank by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock worth $515,000 after purchasing an additional 1,295 shares during the last quarter. US Bancorp DE grew its position in shares of M&T Bank by 24.3% in the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock valued at $1,576,000 after purchasing an additional 1,639 shares in the last quarter. Summit Trail Advisors LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $290,000. Finally, Valeo Financial Advisors LLC purchased a new position in M&T Bank during the fourth quarter worth approximately $297,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MTB shares. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Evercore ISI cut their price objective on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. DA Davidson decreased their target price on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $208.14.

M&T Bank Stock Up 0.6 %

Shares of NYSE MTB traded up $0.97 during trading on Tuesday, reaching $159.47. 1,400,651 shares of the stock were exchanged, compared to its average volume of 1,110,703. The company has a market capitalization of $26.20 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The business's 50-day moving average price is $180.47 and its 200 day moving average price is $191.77. 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 $136.18 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $3.09 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.39%. M&T Bank's payout ratio is 36.91%.

M&T Bank announced that its Board of Directors has approved a stock buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 directly owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.