Grantham Mayo Van Otterloo & Co. LLC Sells 5,560 Shares of M&T Bank Co. (NYSE:MTB)

Grantham Mayo Van Otterloo & Co. LLC lowered its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,226 shares of the financial services provider's stock after selling 5,560 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in M&T Bank were worth $13,767,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MTB. Y.D. More Investments Ltd raised its holdings in M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 114 shares during the period. Human Investing LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at $44,000. Sierra Ocean LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $44,000. Loomis Sayles & Co. L P purchased a new stake in M&T Bank during the 4th quarter worth about $52,000. Finally, Principal Securities Inc. boosted its stake in M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after purchasing an additional 132 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a report on Friday, March 28th. Barclays increased their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced 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. Citigroup lowered their price objective 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. Finally, DA Davidson boosted their target price on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of "Hold" and an average target price of $215.97.

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Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares of the company's stock, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company's stock.

M&T Bank Trading Down 0.9 %

Shares of M&T Bank stock traded down $1.37 during trading on Friday, reaching $156.48. The company's stock had a trading volume of 367,042 shares, compared to its average volume of 1,110,119. 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 52-week low of $133.03 and a 52-week high of $225.70. The firm's 50-day moving average is $182.07 and its two-hundred day moving average is $191.87. The company has a market cap of $25.71 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating 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 earned $2.74 earnings per share. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 yield of 3.45%. M&T Bank's payout ratio is currently 36.91%.

M&T Bank announced that its board has authorized a stock repurchase program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.