NewEdge Advisors LLC Has $2.68 Million Position in M&T Bank Co. (NYSE:MTB)

NewEdge Advisors LLC reduced its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,277 shares of the financial services provider's stock after selling 2,374 shares during the period. NewEdge Advisors LLC's holdings in M&T Bank were worth $2,684,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MTB. Y.D. More Investments Ltd lifted its position 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 buying an additional 114 shares during the last quarter. Human Investing LLC bought a new stake in M&T Bank in the 4th quarter valued at about $44,000. Sierra Ocean LLC bought a new position in M&T Bank in the 4th quarter worth about $44,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $52,000. Finally, Principal Securities Inc. raised its holdings in shares of M&T Bank by 47.5% during 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 during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of recent analyst reports. Citigroup decreased their price objective 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. Barclays cut their price objective on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price 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. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, DA Davidson decreased their price objective on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $208.24.

Insider Buying and Selling

In related 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 transaction, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

M&T Bank Stock Down 1.0 %

Shares of MTB traded down $1.72 during mid-day trading on Friday, reaching $167.44. The company's stock had a trading volume of 829,177 shares, compared to its average volume of 1,118,113. The company has a market cap of $27.51 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. 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 business has a fifty day moving average of $174.48 and a 200 day moving average of $190.77.

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 earnings per share (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 company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the company earned $3.09 earnings per share. As a group, analysts forecast 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 paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

M&T Bank announced that its board has initiated a stock repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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.