Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in M&T Bank Co. (NYSE:MTB)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 21.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,451 shares of the financial services provider's stock after buying an additional 23,679 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.08% of M&T Bank worth $25,631,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd grew its stake in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank in the third quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its position in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock valued at $37,000 after buying an additional 158 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after buying an additional 114 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Michael J. Todaro sold 4,786 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total value of $1,024,682.60. Following the sale, the executive vice president now directly owns 2,787 shares in the company, valued at $596,696.70. This represents a 63.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total value of $4,349,000.00. Following the sale, the director now directly owns 35,480 shares of the company's stock, valued at $7,715,126. This represents a 36.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,397 shares of company stock worth $6,379,459. Insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MTB shares. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday. Wells Fargo & Company upped their price target on M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a research note on Friday, November 15th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Finally, Barclays increased their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, M&T Bank currently has an average rating of "Hold" and an average price target of $221.68.

M&T Bank Trading Down 0.7 %

Shares of NYSE:MTB traded down $1.36 during mid-day trading on Friday, reaching $200.59. 906,333 shares of the company's stock were exchanged, compared to its average volume of 1,306,269. The business's fifty day moving average price is $197.10 and its 200-day moving average price is $188.04. M&T Bank Co. has a twelve month low of $129.36 and a twelve month high of $225.70. The firm has a market capitalization of $33.28 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.42 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the company earned $2.74 earnings per share. On average, research analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank announced that its board has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.69%. M&T Bank's dividend payout ratio is currently 36.91%.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.