M&T Bank Co. (NYSE:MTB) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,598,557 shares of the financial services provider's stock after selling 18,182 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.96% of M&T Bank worth $300,560,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MTB. Sanctuary Advisors LLC increased its stake in M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after purchasing an additional 52 shares during the period. Quadrant Capital Group LLC raised its holdings in M&T Bank by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after purchasing an additional 53 shares in the last quarter. Catalina Capital Group LLC lifted its position in M&T Bank by 2.0% in the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock valued at $531,000 after acquiring an additional 56 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock valued at $660,000 after purchasing an additional 60 shares during the period. Finally, Forum Financial Management LP grew its position in shares of M&T Bank by 2.2% during the fourth quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock worth $540,000 after acquiring an additional 62 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Evercore ISI reduced their price objective on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Barclays decreased their price objective on 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. Wells Fargo & Company cut their price target on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 15th. Citigroup reduced their price target on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $208.24.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company's stock.

M&T Bank Trading Down 1.0 %

Shares of MTB traded down $1.72 during midday trading on Friday, hitting $167.44. The stock had a trading volume of 829,177 shares, compared to its average volume of 1,118,113. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. The firm has a market cap of $27.51 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The stock's 50 day moving average is $174.48 and its 200 day moving average is $190.77.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the business posted $3.09 earnings per share. As a group, analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid 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 yield of 3.23%. M&T Bank's dividend payout ratio (DPR) is currently 36.17%.

M&T Bank announced that its Board of Directors has approved a stock buyback plan 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 plans are usually a sign 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.