Balyasny Asset Management L.P. Sells 8,190 Shares of M&T Bank Co. (NYSE:MTB)

Balyasny Asset Management L.P. lowered its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 65.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,310 shares of the financial services provider's stock after selling 8,190 shares during the period. Balyasny Asset Management L.P.'s holdings in M&T Bank were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large 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 worth approximately $38,000. Y.D. More Investments Ltd grew its position 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 worth $39,000 after buying an additional 114 shares in the last quarter. Human Investing LLC acquired a new stake in M&T Bank during the fourth quarter worth approximately $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank during the fourth quarter worth approximately $44,000. Finally, Loomis Sayles & Co. L P acquired a new stake in M&T Bank during the fourth quarter worth approximately $52,000. Institutional investors own 84.68% of the company's stock.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank 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 transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MTB. Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research report on Thursday, April 24th. Piper Sandler reduced their price target on M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their price target on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 15th. Royal Bank of Canada reduced their price target on M&T Bank from $208.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reduced their price target on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $209.33.

M&T Bank Price Performance

Shares of NYSE MTB traded up $0.80 during mid-day trading on Friday, hitting $187.78. 1,114,815 shares of the stock traded hands, compared to its average volume of 1,136,835. 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 twelve month low of $139.78 and a twelve month high of $225.70. The company has a market cap of $30.14 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The firm has a 50 day simple moving average of $171.22 and a two-hundred day simple moving average of $189.33.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share 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 firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business earned $3.09 EPS. As a group, equities research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors 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. Shareholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's payout ratio is presently 36.17%.

M&T Bank 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.