Caprock Group LLC Purchases 3,114 Shares of M&T Bank Co. (NYSE:MTB)

Caprock Group LLC grew its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 29.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,845 shares of the financial services provider's stock after purchasing an additional 3,114 shares during the quarter. Caprock Group LLC's holdings in M&T Bank were worth $2,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Plato Investment Management Ltd raised its position in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new stake in M&T Bank in the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted 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 valued at $34,000 after buying an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after buying an additional 158 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of M&T Bank during the third quarter valued at about $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the transaction, the director now owns 35,480 shares in the company, valued at $7,715,126. This trade represents a 36.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company's stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,397 shares of company stock worth $6,379,459 over the last ninety days. Insiders own 0.82% of the company's stock.

M&T Bank Trading Up 0.4 %

Shares of M&T Bank stock traded up $0.76 on Wednesday, reaching $198.67. 794,554 shares of the company were exchanged, compared to its average volume of 1,326,668. The stock has a fifty day moving average price of $198.31 and a 200-day moving average price of $187.54. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly 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 previous year, the company earned $2.74 earnings per share. On average, analysts expect that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank declared that its Board of Directors has initiated a share buyback program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Monday, December 2nd. M&T Bank's dividend payout ratio is currently 36.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on 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. The Goldman Sachs Group boosted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research note on Friday, November 15th. DA Davidson upped their target price on shares of M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, Evercore ISI raised their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of "Hold" and a consensus price target of $221.68.

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