Mariner LLC Has $6.24 Million Position in M&T Bank Co. (NYSE:MTB)

Mariner LLC lowered its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,199 shares of the financial services provider's stock after selling 4,734 shares during the period. Mariner LLC's holdings in M&T Bank were worth $6,242,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Y.D. More Investments Ltd lifted its stake in shares of 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 acquiring an additional 114 shares during the period. Human Investing LLC bought a new position in M&T Bank during the 4th quarter valued at $44,000. Sierra Ocean LLC bought a new stake in M&T Bank in the fourth quarter worth about $44,000. Loomis Sayles & Co. L P acquired a new position in M&T Bank in the fourth quarter worth approximately $52,000. Finally, Principal Securities Inc. increased its holdings in shares of M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock valued at $77,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTB. Citigroup reduced their price objective on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Robert W. Baird reduced their price target on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley lowered their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their price target on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, M&T Bank has a consensus rating of "Hold" and an average price target of $208.24.

M&T Bank Price Performance

Shares of NYSE:MTB traded down $1.51 during midday trading on Friday, reaching $167.66. 258,578 shares of the company's stock were exchanged, compared to its average volume of 1,115,897. 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 company's 50 day simple moving average is $174.48 and its two-hundred day simple moving average is $190.77. The firm has a market capitalization of $27.54 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 12 month low of $139.78 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion during 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 period in the prior year, the firm earned $3.09 EPS. Equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.22%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

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 outstanding 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 generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

About M&T Bank

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.