Menora Mivtachim Holdings LTD. Boosts Stock Position in M&T Bank Co. (NYSE:MTB)

Menora Mivtachim Holdings LTD. grew its position in M&T Bank Co. (NYSE:MTB - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 773,119 shares of the financial services provider's stock after acquiring an additional 46,150 shares during the quarter. Menora Mivtachim Holdings LTD. owned about 0.47% of M&T Bank worth $145,354,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Giverny Capital Inc. lifted its position in M&T Bank by 1.9% during the 4th quarter. Giverny Capital Inc. now owns 367,581 shares of the financial services provider's stock worth $69,109,000 after acquiring an additional 6,990 shares during the period. O ROURKE & COMPANY Inc acquired a new position in M&T Bank in the 4th quarter valued at $201,000. Townsquare Capital LLC raised its position in M&T Bank by 9.4% during the 4th quarter. Townsquare Capital LLC now owns 1,414 shares of the financial services provider's stock worth $266,000 after buying an additional 122 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of M&T Bank in the fourth quarter valued at about $2,035,000. Finally, Argent Trust Co boosted its holdings in shares of M&T Bank by 28.9% in the fourth quarter. Argent Trust Co now owns 1,956 shares of the financial services provider's stock valued at $368,000 after acquiring an additional 439 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTB. Royal Bank of Canada reduced their price objective on shares of M&T Bank from $208.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday. Citigroup dropped their price objective on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Evercore ISI lowered their price target on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Robert W. Baird reduced their price objective on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, M&T Bank presently has an average rating of "Hold" and a consensus price target of $208.14.

Insider Buying and Selling

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

M&T Bank Trading Up 0.8 %

NYSE:MTB traded up $1.19 during mid-day trading on Friday, reaching $160.09. The company's stock had a trading volume of 1,105,142 shares, compared to its average volume of 1,111,701. 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 stock has a market cap of $26.30 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 0.58. The company's fifty day simple moving average is $178.03 and its two-hundred day simple moving average is $191.19. M&T Bank Co. has a twelve month low of $138.38 and a twelve month 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 firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business posted $3.09 EPS. On average, equities analysts predict that M&T Bank Co. will post 16.57 EPS for the current 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 paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio is presently 36.17%.

M&T Bank declared that its board has authorized a share buyback 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 reacquire up to 12.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are 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.