Chevy Chase Trust Holdings LLC Sells 2,467 Shares of M&T Bank Co. (NYSE:MTB)

Chevy Chase Trust Holdings LLC lessened its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,729 shares of the financial services provider's stock after selling 2,467 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of M&T Bank worth $16,494,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Asset Management One Co. Ltd. lifted its holdings in shares of M&T Bank by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 66,145 shares of the financial services provider's stock valued at $12,517,000 after acquiring an additional 460 shares during the period. Van ECK Associates Corp lifted its holdings in M&T Bank by 1,262.9% during the 4th quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock valued at $4,169,000 after purchasing an additional 20,548 shares during the last quarter. Kentucky Trust Co acquired a new position in M&T Bank in the fourth quarter valued at about $92,000. Stonebridge Financial Group LLC bought a new stake in M&T Bank during the fourth quarter worth about $150,000. Finally, Summit Trail Advisors LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth approximately $290,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Trading Down 0.6 %

NYSE MTB traded down $1.24 on Wednesday, reaching $199.37. The company had a trading volume of 717,398 shares, compared to its average volume of 1,190,209. The stock has a market cap of $33.08 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.39 and a beta of 0.79. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The stock's 50 day moving average is $195.30 and its 200-day moving average is $189.51. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

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 for the quarter, topping the consensus estimate 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 quarter last year, the business posted $2.74 EPS. Equities analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now directly owns 16,429 shares of the company's stock, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,611 shares of company stock valued at $5,354,777. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MTB has been the topic of several recent analyst reports. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Citigroup lowered M&T Bank from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Barclays raised their target price 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. The Goldman Sachs Group upped their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Finally, DA Davidson increased their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $221.68.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.