Pinkerton Retirement Specialists LLC Makes New $783,000 Investment in M&T Bank Co. (NYSE:MTB)

Pinkerton Retirement Specialists LLC acquired a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,166 shares of the financial services provider's stock, valued at approximately $783,000.

Several other institutional investors also recently bought and sold shares of MTB. Banque Transatlantique SA purchased a new position in M&T Bank during the 4th quarter worth $38,000. Y.D. More Investments Ltd increased its holdings in 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 during the period. Human Investing LLC purchased a new position in M&T Bank during the 4th quarter worth $44,000. Sierra Ocean LLC purchased a new position in M&T Bank during the 4th quarter worth $44,000. Finally, Loomis Sayles & Co. L P purchased a new position in M&T Bank during the 4th quarter worth $52,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTB has been the topic of several research reports. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Barclays cut their price target on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley cut their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Robert W. Baird cut their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Cowen began coverage on M&T Bank in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.53.

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 that occurred 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

M&T Bank Price Performance

Shares of MTB stock opened at $180.03 on Thursday. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The firm has a market capitalization of $28.90 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The stock's 50-day simple moving average is $171.92 and its 200-day simple moving average is $189.11.

M&T Bank (NYSE:MTB - Get Free Report) last issued 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). The firm 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 in the prior year, the company earned $3.09 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company 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 $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. M&T Bank's dividend payout ratio is currently 36.17%.

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

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.

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