Reinhart Partners LLC. Trims Stock Holdings in M&T Bank Co. (NYSE:MTB)

Reinhart Partners LLC. lowered its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,317 shares of the financial services provider's stock after selling 13,186 shares during the quarter. Reinhart Partners LLC.'s holdings in M&T Bank were worth $11,340,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MTB. Plato Investment Management Ltd lifted its position in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the third quarter valued at $32,000. Hexagon Capital Partners LLC raised its holdings in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in 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 worth $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in M&T Bank during the 3rd quarter valued at about $44,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

Shares of MTB stock traded up $3.60 during mid-day trading on Monday, hitting $191.35. 1,373,921 shares of the stock were exchanged, compared to its average volume of 1,167,714. The stock's fifty day simple moving average is $203.18 and its two-hundred day simple moving average is $182.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. The stock has a market capitalization of $31.75 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 2.79 and a beta of 0.79.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, analysts forecast that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank's dividend payout ratio is currently 39.97%.

Analyst Upgrades and Downgrades

MTB has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a research report on Friday, November 15th. Wedbush raised their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an "outperform" rating in a research report on Tuesday, September 24th. Barclays boosted their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price objective on M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Finally, Evercore ISI upped their price target on M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of "Hold" and a consensus price target of $216.86.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares of the company's stock, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,994 shares of company stock valued at $17,211,278. Insiders own 0.82% of the company's stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.