Paradigm Asset Management Co. LLC Makes New $771,000 Investment in M&T Bank Co. (NYSE:MTB)

Paradigm Asset Management Co. LLC bought a new stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,100 shares of the financial services provider's stock, valued at approximately $771,000.

Other large investors have also recently modified their holdings of the company. Plato Investment Management Ltd increased its position in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of M&T Bank during the 3rd quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of 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 valued at $37,000 after purchasing an additional 158 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of 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 purchasing an additional 114 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in M&T Bank in the 3rd quarter valued at $44,000. Institutional investors own 84.68% of the company's stock.

M&T Bank Stock Down 2.0 %

Shares of NYSE MTB traded down $3.97 during mid-day trading on Friday, reaching $193.48. 1,753,063 shares of the company were exchanged, compared to its average volume of 945,721. 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 stock has a market cap of $31.80 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The firm has a 50-day moving average of $195.09 and a 200 day moving average of $190.29.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) 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 quarter last year, the company posted $2.74 EPS. On average, research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have commented on MTB. Compass Point upped their price objective 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. The Goldman Sachs Group upped their price objective on M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Finally, Citigroup downgraded M&T Bank from a "buy" rating to a "neutral" rating and upped their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, M&T Bank presently has a consensus rating of "Hold" and an average price target of $221.68.

Insider Activity at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares of the company's stock, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.