Caisse DE Depot ET Placement DU Quebec Purchases New Position in M&T Bank Co. (NYSE:MTB)

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,785 shares of the financial services provider's stock, valued at approximately $7,292,000.

A number of other institutional investors also recently made changes to their positions in the company. FMR LLC increased its position 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 worth $2,652,899,000 after buying an additional 1,761,014 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 period. Geode Capital Management LLC grew its position in M&T Bank by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after buying an additional 40,948 shares in the last quarter. Norges Bank bought a new position in M&T Bank during the 4th quarter worth $317,690,000. Finally, Northern Trust Corp lifted its position in shares of 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 valued at $316,483,000 after acquiring an additional 215,100 shares during the period. Institutional investors own 84.68% of the company's stock.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was 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 directly owns 10,751 shares in the company, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.53% of the company's stock.

M&T Bank Trading Up 0.8 %

M&T Bank stock traded up $1.36 during trading hours on Wednesday, reaching $173.91. 1,420,529 shares of the company's stock were exchanged, compared to its average volume of 1,126,816. The firm has a market capitalization of $28.57 billion, a PE ratio of 11.89, a PEG ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm's 50 day simple moving average is $170.82 and its 200 day simple moving average is $189.96. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion during 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 in the previous year, the firm posted $3.09 earnings per share. Research analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

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

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Monday, March 3rd. M&T Bank's payout ratio is 36.17%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTB. Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. StockNews.com cut M&T Bank from a "hold" rating to a "sell" rating in a research note on Tuesday. Royal Bank of Canada lowered their price target on M&T Bank from $208.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, M&T Bank has a consensus rating of "Hold" and a consensus target price of $208.24.

About M&T Bank

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.