229,247 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ bought a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 229,247 shares of the financial services provider's stock, valued at approximately $43,101,000. Lansforsakringar Fondforvaltning AB publ owned approximately 0.14% of M&T Bank at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wood Tarver Financial Group LLC purchased a new position in shares of M&T Bank in the fourth quarter worth approximately $29,000. Banque Transatlantique SA bought a new position in M&T Bank during the fourth quarter valued at approximately $38,000. Y.D. More Investments Ltd raised its stake in M&T Bank by 122.6% during 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 in the last quarter. Human Investing LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at approximately $44,000. Finally, Sierra Ocean LLC purchased a new position in M&T Bank during the 4th quarter valued at $44,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Down 0.2%

Shares of MTB traded down $0.43 during midday trading on Friday, reaching $182.53. The stock had a trading volume of 1,944,983 shares, compared to its average volume of 1,154,604. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a 1-year low of $139.78 and a 1-year high of $225.70. The company has a market cap of $29.30 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.38 and a beta of 0.58. The company's fifty day simple moving average is $172.39 and its two-hundred day simple moving average is $188.12.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $3.09 EPS. Equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

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 issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, June 2nd. M&T Bank's dividend payout ratio is presently 36.17%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. 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 report on Thursday, April 3rd. Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a research report on Monday, May 19th. Citigroup decreased their price objective on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Wells Fargo & Company cut their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, M&T Bank currently has an average rating of "Moderate Buy" and an average price target of $212.53.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company's stock.

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.