Cetera Investment Advisers Has $5.96 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Cetera Investment Advisers lifted its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,714 shares of the financial services provider's stock after acquiring an additional 2,526 shares during the quarter. Cetera Investment Advisers' holdings in M&T Bank were worth $5,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTB. Barclays PLC raised its position in shares of M&T Bank by 11.9% during the third quarter. Barclays PLC now owns 578,266 shares of the financial services provider's stock worth $102,999,000 after acquiring an additional 61,375 shares during the last quarter. Franklin Resources Inc. raised its position in shares of M&T Bank by 45.5% during the third quarter. Franklin Resources Inc. now owns 21,481 shares of the financial services provider's stock worth $3,986,000 after acquiring an additional 6,717 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of M&T Bank by 1.4% during the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider's stock worth $35,466,000 after purchasing an additional 2,797 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of M&T Bank by 9.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,774 shares of the financial services provider's stock worth $3,166,000 after purchasing an additional 1,468 shares during the period. Finally, Czech National Bank grew its stake in shares of M&T Bank by 5.7% during the fourth quarter. Czech National Bank now owns 35,975 shares of the financial services provider's stock worth $6,764,000 after purchasing an additional 1,956 shares during the period. Institutional investors own 84.68% of the company's stock.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the 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 completion of the transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company's stock.

M&T Bank Stock Down 0.2%

Shares of MTB stock traded down $0.44 on Monday, hitting $187.29. 956,990 shares of the stock were exchanged, compared to its average volume of 1,136,115. 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 firm has a market capitalization of $30.06 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The business has a 50-day moving average of $171.53 and a 200 day moving average of $189.20. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $3.09 earnings per share. Equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.88%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analyst Weigh In

MTB has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Cowen initiated coverage on M&T Bank in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Barclays decreased their price objective on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. Finally, Robert W. Baird decreased their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.33.

M&T Bank Company 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.