M&T Bank Co. (NYSE:MTB) Stake Lowered by Canoe Financial LP

Canoe Financial LP reduced its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 99.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 322 shares of the financial services provider's stock after selling 587,980 shares during the period. Canoe Financial LP's holdings in M&T Bank were worth $61,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd lifted its stake in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after acquiring an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new stake in M&T Bank in the 3rd quarter valued at approximately $32,000. Hexagon Capital Partners LLC boosted its holdings in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in M&T Bank during the third quarter worth $44,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on MTB shares. Wedbush boosted their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Royal Bank of Canada raised their price target on M&T Bank from $190.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research report on Friday, November 15th. Finally, Citigroup lowered M&T Bank from a "buy" rating to a "neutral" rating and raised their price target for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $221.68.

M&T Bank Stock Up 0.4 %

M&T Bank stock traded up $0.78 during midday trading on Friday, hitting $196.88. 2,029,408 shares of the company were exchanged, compared to its average volume of 1,013,933. The company has a market cap of $32.67 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The company's fifty day moving average price is $202.41 and its 200-day moving average price is $183.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period in the prior year, the firm earned $2.74 earnings per share. On average, research analysts predict that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank's payout ratio is 39.97%.

Insider Buying and Selling

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the sale, the director now owns 49,960 shares in the company, valued at $9,690,741.20. This represents a 28.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is currently owned by corporate insiders.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.