London Co. of Virginia Has $223.13 Million Holdings in M&T Bank Co. (NYSE:MTB)

London Co. of Virginia cut its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,186,782 shares of the financial services provider's stock after selling 6,793 shares during the quarter. London Co. of Virginia owned 0.72% of M&T Bank worth $223,127,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Banque Transatlantique SA bought a new stake in M&T Bank in the fourth quarter worth about $38,000. Y.D. More Investments Ltd grew its stake in shares of M&T Bank by 122.6% in 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 last quarter. Human Investing LLC bought a new stake in shares of M&T Bank in the 4th quarter worth approximately $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank during the fourth quarter valued at approximately $44,000. Finally, Loomis Sayles & Co. L P acquired a new stake in M&T Bank during the fourth quarter valued at approximately $52,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Up 0.9%

Shares of M&T Bank stock traded up $1.65 on Thursday, hitting $187.06. 762,656 shares of the company traded hands, compared to its average volume of 1,131,461. 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 Co. has a 12-month low of $139.78 and a 12-month high of $225.70. The company has a 50-day moving average price of $170.63 and a 200 day moving average price of $189.45. The company has a market cap of $30.03 billion, a PE ratio of 12.79, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (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 business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $3.09 earnings per share. Sell-side analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its Board of Directors has approved a share buyback plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio is presently 36.17%.

Insiders Place Their Bets

In other 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 value of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays decreased their price target on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 15th. Citigroup cut their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company reduced their target price 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. Royal Bank of Canada dropped their price target on M&T Bank from $208.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, M&T Bank presently has a consensus rating of "Hold" and a consensus target price of $209.33.

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.