Axa S.A. Has $4.78 Million Stake in M&T Bank Co. (NYSE:MTB)

AXA S.A. lifted its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 1,419.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,438 shares of the financial services provider's stock after acquiring an additional 23,764 shares during the period. AXA S.A.'s holdings in M&T Bank were worth $4,783,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of MTB. FMR LLC increased its stake in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after buying an additional 1,761,014 shares during the period. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $994,522,000 after acquiring an additional 252,583 shares during the period. Geode Capital Management LLC lifted its position in shares of 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 in the 4th quarter worth approximately $317,690,000. Finally, Northern Trust Corp grew its position in M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock worth $316,483,000 after purchasing an additional 215,100 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Up 4.8%

Shares of NYSE MTB traded up $8.55 during mid-day trading on Monday, reaching $185.70. 366,621 shares of the company's stock were exchanged, compared to its average volume of 1,125,149. 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 business has a fifty day simple moving average of $170.16 and a 200 day simple moving average of $189.56. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70. The firm has a market capitalization of $30.51 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. 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 $3.09 EPS. As a group, equities analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.91%. M&T Bank's dividend payout ratio is 36.17%.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on MTB. StockNews.com lowered M&T Bank from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Robert W. Baird cut their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Morgan Stanley reduced their price objective on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Evercore ISI dropped their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, M&T Bank presently has an average rating of "Hold" and an average price target of $208.24.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction that occurred 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 directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.