Commerce Bank Sells 2,188 Shares of M&T Bank Co. (NYSE:MTB)

Commerce Bank lessened its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,375 shares of the financial services provider's stock after selling 2,188 shares during the quarter. Commerce Bank's holdings in M&T Bank were worth $1,387,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its stake in shares of M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after buying an additional 52 shares during the last quarter. Quadrant Capital Group LLC boosted its position in M&T Bank by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock valued at $183,000 after purchasing an additional 53 shares during the last quarter. Catalina Capital Group LLC grew its stake in M&T Bank by 2.0% in the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock valued at $531,000 after purchasing an additional 56 shares in the last quarter. Parallel Advisors LLC increased its position in shares of M&T Bank by 1.7% during the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after purchasing an additional 60 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its stake in shares of M&T Bank by 1.2% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider's stock worth $975,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MTB. Robert W. Baird lowered their target price on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada dropped their target price on shares of M&T Bank from $208.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Citigroup lowered their price target on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective on the stock in a research note on Thursday. Finally, DA Davidson decreased their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $208.24.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

M&T Bank Price Performance

MTB stock traded down $1.72 during mid-day trading on Friday, hitting $167.44. The stock had a trading volume of 829,177 shares, compared to its average volume of 1,118,906. The firm has a fifty day simple moving average of $173.82 and a 200 day simple moving average of $190.70. The firm has a market capitalization of $27.51 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70.

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

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.23%. M&T Bank's payout ratio is currently 36.17%.

M&T Bank declared that its board has initiated a stock buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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.