Ossiam Grows Position in M&T Bank Co. (NYSE:MTB)

Ossiam raised its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 177.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,877 shares of the financial services provider's stock after acquiring an additional 11,443 shares during the period. Ossiam's holdings in M&T Bank were worth $3,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTB. FMR LLC raised its position in shares of M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after buying an additional 1,761,014 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock valued at $994,522,000 after purchasing an additional 252,583 shares during the period. Geode Capital Management LLC lifted its stake in shares of M&T Bank by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock valued at $819,768,000 after purchasing an additional 40,948 shares during the last quarter. Norges Bank purchased a new position in shares of M&T Bank in the 4th quarter worth approximately $317,690,000. Finally, First Trust Advisors LP increased its position in shares of M&T Bank by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock valued at $301,892,000 after purchasing an additional 33,017 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

M&T Bank Stock Up 2.2 %

Shares of MTB traded up $3.56 during mid-day trading on Wednesday, hitting $165.56. 1,217,332 shares of the company traded hands, compared to its average volume of 1,118,210. The company has a market capitalization of $27.20 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $175.73 and a 200 day moving average of $191.00. M&T Bank Co. has a 1-year low of $139.78 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted 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 return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business posted $3.09 EPS. Equities research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its board has initiated a share repurchase plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio is presently 36.17%.

Analyst Ratings Changes

MTB has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. DA Davidson reduced their price objective on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley dropped their target price on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Robert W. Baird reduced their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank currently has an average rating of "Hold" and an average target price of $208.14.

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.