Lazard Asset Management LLC reduced its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 91.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,054 shares of the financial services provider's stock after selling 11,919 shares during the period. Lazard Asset Management LLC's holdings in M&T Bank were worth $197,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in M&T Bank during the 4th quarter worth $38,000. Y.D. More Investments Ltd raised its holdings 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 buying 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 acquired a new position in shares of M&T Bank during the 4th quarter worth $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 institutional investors and hedge funds.
Insider Activity at M&T Bank
In related news, EVP Christopher E. Kay sold 1,738 shares of the company'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 sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.
M&T Bank Trading Up 2.6%
Shares of NYSE MTB traded up $4.70 during trading on Tuesday, reaching $184.14. The company had a trading volume of 1,113,933 shares, compared to its average volume of 1,144,885. The company's fifty day moving average price is $172.17 and its 200-day moving average price is $188.41. M&T Bank Co. has a 12 month low of $139.78 and a 12 month high of $225.70. The stock has a market cap of $29.56 billion, a P/E ratio of 12.59, 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.
M&T Bank (NYSE:MTB - Get Free Report) last announced its 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). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $3.09 EPS. As a group, research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.
M&T Bank Dividend Announcement
The firm also recently announced 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. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.93%. M&T Bank's payout ratio is 36.17%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. 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 report on Thursday, April 24th. Morgan Stanley lowered their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Jefferies Financial Group set a $225.00 price target on M&T Bank and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a report on Monday, May 19th. One research 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.com, M&T Bank currently has a consensus rating of "Moderate Buy" and an average target price of $212.53.
View Our Latest Stock Report on MTB
M&T Bank Company Profile
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Free Report)
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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