Sei Investments Co. Lowers Holdings in M&T Bank Co. (NYSE:MTB)

Sei Investments Co. reduced its position in M&T Bank Co. (NYSE:MTB - Free Report) by 15.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,273 shares of the financial services provider's stock after selling 14,568 shares during the period. Sei Investments Co.'s holdings in M&T Bank were worth $15,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTB. State Street Corp lifted its holdings in shares of M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock valued at $1,562,725,000 after purchasing an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in M&T Bank by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock valued at $994,522,000 after buying an additional 252,583 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in M&T Bank in the third quarter worth about $44,422,000. Amundi grew its position in 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 purchasing an additional 244,709 shares during the last quarter. Finally, LGT Capital Partners LTD. acquired a new position in M&T Bank during the 4th quarter valued at approximately $34,803,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Price Performance

MTB traded up $3.56 during midday trading on Wednesday, hitting $179.93. 822,111 shares of the company traded hands, compared to its average volume of 1,090,988. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a market capitalization of $29.56 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.38 and a beta of 0.58. The business has a 50 day simple moving average of $188.33 and a two-hundred day simple moving average of $192.86.

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M&T Bank (NYSE:MTB - Get Free Report) last released its 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 prior year, the firm earned $2.74 EPS. On average, equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is 36.91%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Barclays lifted their target price on M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Morgan Stanley decreased their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $218.79.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

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.