Barrow Hanley Mewhinney & Strauss LLC Decreases Stock Holdings in M&T Bank Co. (NYSE:MTB)

Barrow Hanley Mewhinney & Strauss LLC cut its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,307,326 shares of the financial services provider's stock after selling 19,385 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.79% of M&T Bank worth $245,790,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Banque Transatlantique SA purchased a new position in M&T Bank in the 4th quarter valued at approximately $38,000. Y.D. More Investments Ltd grew its holdings in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 114 shares during the last quarter. Human Investing LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at $44,000. Sierra Ocean LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at $44,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of M&T Bank during the 4th quarter worth $52,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of M&T Bank in a research note on Monday. Cowen initiated coverage on shares of M&T Bank in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Piper Sandler dropped their price objective on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Citigroup cut their price objective on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. lowered their target price on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $212.53.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction dated 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 sale, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.

M&T Bank Stock Performance

M&T Bank stock opened at $180.52 on Friday. The stock has a fifty day moving average price of $172.02 and a 200 day moving average price of $189.04. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. The firm has a market capitalization of $28.98 billion, a P/E ratio of 12.34, a PEG ratio of 1.38 and a beta of 0.58. 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 (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the firm earned $3.09 EPS. Equities research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is 36.17%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.