iSAM Funds UK Ltd Acquires Shares of 9,503 M&T Bank Co. (NYSE:MTB)

iSAM Funds UK Ltd bought a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,503 shares of the financial services provider's stock, valued at approximately $1,787,000. M&T Bank makes up about 1.3% of iSAM Funds UK Ltd's investment portfolio, making the stock its 3rd largest holding.

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

M&T Bank Stock Down 0.2%

MTB stock opened at $187.29 on Tuesday. The firm's 50-day moving average is $171.53 and its two-hundred day moving average is $189.20. The company has a market capitalization of $30.06 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. 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 issued its quarterly 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 net margin of 19.24% and a return on equity of 10.12%. During the same period in the previous year, the business posted $3.09 earnings per share. On average, analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

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

M&T Bank Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MTB shares. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a research report on Thursday, April 24th. Citigroup dropped their price target 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. DA Davidson lowered their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Evercore ISI cut their target price on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Finally, Morgan Stanley reduced their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $209.33.

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.

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