First Trust Advisors LP Has $301.89 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

First Trust Advisors LP lifted its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,605,724 shares of the financial services provider's stock after buying an additional 33,017 shares during the quarter. First Trust Advisors LP owned about 0.97% of M&T Bank worth $301,892,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of M&T Bank by 14.3% in the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after acquiring an additional 1,761,014 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in M&T Bank by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after purchasing an additional 252,583 shares during the last quarter. Geode Capital Management LLC lifted its holdings in M&T Bank by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after buying an additional 40,948 shares in the last quarter. Norges Bank bought a new position in M&T Bank in the 4th quarter valued at $317,690,000. Finally, Amundi increased its stake in shares of M&T Bank by 43.5% in the 4th quarter. Amundi now owns 807,339 shares of the financial services provider's stock valued at $154,315,000 after buying an additional 244,709 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MTB. Evercore ISI decreased their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Citigroup lowered their price target on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Barclays cut their price objective on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. Finally, DA Davidson lowered their target price on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $208.24.

M&T Bank Stock Up 2.4 %

Shares of NYSE:MTB traded up $3.98 during midday trading on Thursday, reaching $169.32. 383,844 shares of the company were exchanged, compared to its average volume of 1,419,046. The firm has a market cap of $27.82 billion, a PE ratio of 11.58, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The stock has a fifty day simple moving average of $175.07 and a two-hundred day simple moving average of $190.83. 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 (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the business earned $3.09 EPS. As a group, sell-side analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid 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 3.19%. M&T Bank's dividend payout ratio is currently 36.17%.

M&T Bank announced that its Board of Directors 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 purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Activity

In other news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.

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.