O Shaughnessy Asset Management LLC Purchases 6,834 Shares of M&T Bank Co. (NYSE:MTB)

O Shaughnessy Asset Management LLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,261 shares of the financial services provider's stock after buying an additional 6,834 shares during the period. O Shaughnessy Asset Management LLC's holdings in M&T Bank were worth $8,698,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MTB. Y.D. More Investments Ltd lifted its stake in M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC bought a new position in shares of M&T Bank during the fourth quarter valued at about $44,000. Sierra Ocean LLC bought a new position in shares of M&T Bank during the fourth quarter valued at about $44,000. Loomis Sayles & Co. L P purchased a new position in M&T Bank during the fourth quarter worth about $52,000. Finally, Principal Securities Inc. grew its position in M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank 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. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

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Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. 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 note on Thursday. Morgan Stanley cut their price objective on 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. 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 research report on Tuesday, December 10th. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Citigroup decreased their price objective on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $215.97.

M&T Bank Stock Performance

M&T Bank stock traded down $6.23 during mid-day trading on Friday, reaching $157.13. The company's stock had a trading volume of 2,483,308 shares, compared to its average volume of 1,101,964. The firm's fifty day moving average price is $186.82 and its two-hundred day moving average price is $192.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The company has a market capitalization of $25.82 billion, a P/E ratio of 10.74, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the previous year, the firm earned $2.74 earnings per share. Sell-side analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

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

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's payout ratio is 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.