M&T Bank Co. (NYSE:MTB) Stake Lifted by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC raised its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 89.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,737 shares of the financial services provider's stock after purchasing an additional 1,295 shares during the period. Flagship Harbor Advisors LLC's holdings in M&T Bank were worth $515,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MTB. Plato Investment Management Ltd lifted its position in M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank in the 3rd quarter valued at $32,000. Hexagon Capital Partners LLC boosted its position in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insiders Place Their Bets

In other M&T Bank news, Director Kirk W. Walters sold 1,590 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the transaction, the director now owns 2,108 shares in the company, valued at approximately $443,143.76. This represents a 43.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the sale, the insider now directly owns 40,502 shares in the company, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,487 shares of company stock valued at $8,182,809 over the last three months. Company insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

MTB has been the subject of several analyst reports. Barclays upped their target price on M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Citigroup cut M&T Bank from a "buy" rating to a "neutral" rating and upped their price target for the stock from $220.00 to $230.00 in a report on Monday, November 25th. The Goldman Sachs Group lifted their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank has a consensus rating of "Hold" and an average target price of $221.68.

M&T Bank Stock Performance

Shares of NYSE:MTB traded up $1.82 on Wednesday, reaching $201.64. 415,785 shares of the company's stock were exchanged, compared to its average volume of 1,351,945. The business's 50-day moving average is $200.23 and its two-hundred day moving average is $186.28. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The firm has a market capitalization of $33.46 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.37 and a beta of 0.79.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the previous year, the company earned $2.74 EPS. As a group, equities research analysts forecast 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 allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.68%. M&T Bank's payout ratio is currently 36.91%.

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