M&T Bank Co. (NYSE:MTB) Stake Lessened by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 91.9% in the 4th quarter, according to its most recent Form 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 quarter. Lazard Asset Management LLC's holdings in M&T Bank were worth $197,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MTB. Banque Transatlantique SA bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $38,000. Y.D. More Investments Ltd grew its holdings in shares of 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 during the last quarter. Human Investing LLC bought a new position in M&T Bank in the 4th quarter worth approximately $44,000. Sierra Ocean LLC bought a new position in M&T Bank in the 4th quarter worth approximately $44,000. Finally, Loomis Sayles & Co. L P bought a new position in M&T Bank in the 4th quarter worth approximately $52,000. 84.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Jefferies Financial Group set a $225.00 price objective on M&T Bank and gave the stock a "buy" rating in a report on Wednesday, May 21st. 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 report on Tuesday, April 15th. TD Cowen assumed coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective for the company. Wells Fargo & Company decreased their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. Finally, Cowen assumed coverage on M&T Bank in a report on Wednesday, May 14th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $212.53.

Insider Activity

In other news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.53% of the company's stock.

M&T Bank Price Performance

Shares of NYSE:MTB traded up $0.72 on Thursday, reaching $182.16. 269,856 shares of the company traded hands, compared to its average volume of 1,324,782. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The company's 50 day moving average is $172.38 and its 200-day moving average is $188.34. The stock has a market capitalization of $29.24 billion, a PE ratio of 12.45, a P/E/G ratio of 1.38 and a beta of 0.58. 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 (NYSE:MTB - Get Free Report) last announced its quarterly earnings data 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 net margin of 19.24% and a return on equity of 10.12%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company posted $3.09 EPS. As a group, analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

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.