Prudential PLC Has $1.93 Million Position in M&T Bank Co. (NYSE:MTB)

Prudential PLC boosted its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 444.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,281 shares of the financial services provider's stock after acquiring an additional 8,392 shares during the quarter. Prudential PLC's holdings in M&T Bank were worth $1,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after buying an additional 252,583 shares during the period. Geode Capital Management LLC lifted its stake in M&T Bank by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock valued at $819,768,000 after acquiring an additional 40,948 shares in the last quarter. Norges Bank acquired a new position in M&T Bank during the 4th quarter worth approximately $317,690,000. Amundi grew its stake in shares of M&T Bank by 43.5% during the 4th quarter. Amundi now owns 807,339 shares of the financial services provider's stock worth $154,315,000 after acquiring an additional 244,709 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of M&T Bank by 1.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 604,317 shares of the financial services provider's stock valued at $113,618,000 after purchasing an additional 11,365 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Remove Ads

M&T Bank Stock Performance

Shares of NYSE:MTB traded down $2.47 during trading on Friday, reaching $155.38. 308,942 shares of the stock were exchanged, compared to its average volume of 1,109,881. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $182.07 and a 200-day moving average price of $191.87. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The firm has a market cap of $25.53 billion, a PE ratio of 10.63, a PEG ratio of 1.38 and a beta of 0.58.

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 analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the previous year, the firm earned $2.74 earnings per share. Research analysts expect 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 stock repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.48%. M&T Bank's dividend payout ratio is presently 36.91%.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was 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 in the company, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MTB. Citigroup decreased their target price on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company lowered their target price on M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a research report on Friday, March 28th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. DA Davidson boosted their price target on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Finally, Evercore ISI cut their price objective on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $215.97.

M&T Bank 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.