BI Asset Management Fondsmaeglerselskab A S Has $6.35 Million Stock Position in M&T Bank Co. (NYSE:MTB)

BI Asset Management Fondsmaeglerselskab A S raised its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 389.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,757 shares of the financial services provider's stock after buying an additional 26,857 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in M&T Bank were worth $6,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MTB. Y.D. More Investments Ltd increased its position in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after purchasing an additional 114 shares during the last quarter. Human Investing LLC acquired a new position in M&T Bank in the fourth quarter worth approximately $44,000. Sierra Ocean LLC bought a new position in M&T Bank during the fourth quarter valued at approximately $44,000. Loomis Sayles & Co. L P acquired a new stake in M&T Bank in the fourth quarter valued at approximately $52,000. Finally, Principal Securities Inc. grew its position in M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after acquiring an additional 132 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced 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. 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 research report on Monday, March 24th. Barclays lowered 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. Evercore ISI reduced their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Finally, DA Davidson lowered their price target on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, M&T Bank has an average rating of "Hold" and a consensus price target of $208.14.

M&T Bank Stock Performance

Shares of MTB stock traded up $3.56 during mid-day trading on Wednesday, reaching $165.56. The stock had a trading volume of 1,217,332 shares, compared to its average volume of 1,118,210. The firm has a market cap of $27.20 billion, a PE ratio of 11.32, a P/E/G 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 firm's 50 day simple moving average is $175.73 and its 200 day simple moving average is $191.00. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $3.09 earnings per share. On average, analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business 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. This represents a $5.40 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is 36.17%.

M&T Bank announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company's stock.

M&T Bank 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.