M&T Bank Co. (NYSE:MTB) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lessened its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 44.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 168,797 shares of the financial services provider's stock after selling 134,225 shares during the period. Artisan Partners Limited Partnership owned approximately 0.10% of M&T Bank worth $31,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MTB. Y.D. More Investments Ltd raised its stake in shares of 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 buying an additional 114 shares during the last quarter. Human Investing LLC purchased a new position in M&T Bank during the fourth quarter valued at approximately $44,000. Sierra Ocean LLC acquired a new position in M&T Bank in the fourth quarter valued at approximately $44,000. Principal Securities Inc. boosted its position 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 in the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of M&T Bank during the 4th quarter valued at about $92,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Trading Up 0.9 %

MTB traded up $1.63 during mid-day trading on Wednesday, hitting $178.00. 243,455 shares of the stock were exchanged, compared to its average volume of 1,371,651. The firm's fifty day moving average is $188.64 and its two-hundred day moving average is $192.95. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70. The company has a market cap of $29.24 billion, a PE ratio of 12.17, a PEG ratio of 1.38 and a beta of 0.74. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

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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 quarter in the previous year, the firm earned $2.74 EPS. Equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.03%. M&T Bank's dividend payout ratio is presently 36.91%.

M&T Bank announced that its board has initiated a share repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MTB shares. Evercore ISI lowered their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company decreased their target price on M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a research report on Friday, March 28th. 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 report on Monday, January 6th. Compass Point increased their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of "Hold" and an average target price of $218.79.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on 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 in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

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.