Invesco Ltd. Sells 724,419 Shares of M&T Bank Co. (NYSE:MTB)

Invesco Ltd. reduced its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,083,908 shares of the financial services provider's stock after selling 724,419 shares during the period. Invesco Ltd. owned approximately 1.86% of M&T Bank worth $579,805,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MTB. Y.D. More Investments Ltd grew its holdings in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC bought a new stake in shares of M&T Bank during the 4th quarter worth $44,000. Sierra Ocean LLC purchased a new position in M&T Bank in the fourth quarter worth $44,000. Loomis Sayles & Co. L P purchased a new stake in M&T Bank during the fourth quarter valued at about $52,000. Finally, Principal Securities Inc. raised its position in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. DA Davidson raised their price objective on M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, January 17th. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Barclays boosted their price target 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. Finally, Morgan Stanley decreased their price objective on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $215.97.

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Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction 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 completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company's stock.

M&T Bank Stock Up 0.4 %

MTB stock traded up $0.65 during midday trading on Monday, hitting $158.60. The stock had a trading volume of 514,981 shares, compared to its average volume of 1,111,881. The business has a 50-day moving average of $181.27 and a two-hundred day moving average of $191.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm has a market cap of $26.06 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 52-week low of $136.18 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) 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 period last year, the business posted $2.74 earnings per share. As a group, equities research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.40%. M&T Bank's payout ratio is 36.91%.

M&T Bank declared that its board has initiated a stock repurchase program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are 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.