Advisory Services Network LLC Has $856,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

Advisory Services Network LLC lessened its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 50.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,554 shares of the financial services provider's stock after selling 4,589 shares during the quarter. Advisory Services Network LLC's holdings in M&T Bank were worth $856,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MTB. FMR LLC raised its stake in shares of M&T Bank by 14.3% during the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after buying an additional 1,761,014 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of M&T Bank by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after purchasing an additional 252,583 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of M&T Bank by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after purchasing an additional 40,948 shares during the period. Norges Bank bought a new stake in M&T Bank in the fourth quarter valued at about $317,690,000. Finally, Amundi lifted its stake in M&T Bank by 43.5% in the fourth quarter. Amundi now owns 807,339 shares of the financial services provider's stock valued at $154,315,000 after buying an additional 244,709 shares during the period. Institutional investors own 84.68% of the company's stock.

M&T Bank Stock Performance

NYSE MTB traded up $1.19 on Friday, hitting $160.09. 1,105,142 shares of the stock were exchanged, compared to its average volume of 1,111,223. The business's fifty day moving average is $177.25 and its 200 day moving average is $191.36. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. The company has a market capitalization of $26.30 billion, a PE ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

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 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business posted $3.09 EPS. Research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.37%. M&T Bank's dividend payout ratio is currently 36.17%.

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

Analysts Set New Price Targets

A number of analysts have recently commented on MTB shares. Barclays lowered their price target on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered 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 report on Thursday, April 3rd. Evercore ISI reduced their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Citigroup lowered their price target on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Robert W. Baird cut their price objective 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $208.14.

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 sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

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.