M&T Bank Co. (NYSE:MTB) Stock Position Increased by Huntington National Bank

Huntington National Bank boosted its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 23.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 387,498 shares of the financial services provider's stock after acquiring an additional 73,384 shares during the period. Huntington National Bank owned about 0.23% of M&T Bank worth $72,853,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Meeder Advisory Services Inc. increased its holdings in shares of M&T Bank by 23.1% during the 4th quarter. Meeder Advisory Services Inc. now owns 3,732 shares of the financial services provider's stock worth $702,000 after buying an additional 700 shares during the last quarter. Trexquant Investment LP grew its position in M&T Bank by 74.3% in the fourth quarter. Trexquant Investment LP now owns 30,291 shares of the financial services provider's stock worth $5,695,000 after acquiring an additional 12,914 shares during the period. Headlands Technologies LLC increased its stake in M&T Bank by 2,338.2% during the fourth quarter. Headlands Technologies LLC now owns 1,658 shares of the financial services provider's stock worth $312,000 after acquiring an additional 1,590 shares during the last quarter. Geode Capital Management LLC raised its position in M&T Bank by 0.9% in the fourth 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 period. Finally, Franklin Resources Inc. lifted its stake in shares of M&T Bank by 84.9% in the 4th quarter. Franklin Resources Inc. now owns 39,726 shares of the financial services provider's stock valued at $7,469,000 after purchasing an additional 18,245 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

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M&T Bank Trading Down 1.1 %

Shares of NYSE:MTB traded down $1.80 during trading on Monday, reaching $155.22. 758,168 shares of the stock were exchanged, compared to its average volume of 1,399,584. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The firm's 50-day moving average price is $186.82 and its 200 day moving average price is $192.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The firm has a market cap of $25.50 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data 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 period last year, the company earned $2.74 earnings per share. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's payout ratio is 36.91%.

M&T Bank announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently issued reports on MTB. Citigroup reduced their price target on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. cut their target price on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday. Compass Point raised their target price on M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Barclays raised their price objective on shares of 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. Finally, Evercore ISI lowered their target price on 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $215.97.

Insider Buying and Selling

In related 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 completion of the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.