Valeo Financial Advisors LLC Makes New $297,000 Investment in M&T Bank Co. (NYSE:MTB)

Valeo Financial Advisors LLC bought a new position in M&T Bank Co. (NYSE:MTB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,578 shares of the financial services provider's stock, valued at approximately $297,000.

Other large investors have also made changes to their positions in the company. Plato Investment Management Ltd raised its position in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank in the 3rd quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after buying an additional 158 shares during the period. Y.D. More Investments Ltd raised its position in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after buying an additional 114 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in M&T Bank in the third quarter valued at about $44,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

Shares of MTB traded down $3.97 during mid-day trading on Friday, reaching $193.48. 1,753,063 shares of the company's stock traded hands, compared to its average volume of 1,208,231. The business's 50-day moving average price is $195.09 and its 200-day moving average price is $189.87. The stock has a market capitalization of $32.10 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping 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 in the previous year, the business earned $2.74 EPS. Equities analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its board has initiated a stock repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

M&T Bank Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. The trade was a 29.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now owns 16,429 shares in the company, valued at approximately $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 company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on MTB shares. The Goldman Sachs Group raised 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. Wells Fargo & Company raised their price objective on M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Citigroup lowered M&T Bank from a "buy" rating to a "neutral" rating and raised their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Finally, DA Davidson raised their price objective on M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. 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 stock. According to MarketBeat.com, M&T Bank has an average rating of "Hold" and an average target price of $221.68.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.