M&T Bank Co. (NYSE:MTB) Shares Sold by Natixis

Natixis lessened its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 62.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,816 shares of the financial services provider's stock after selling 21,341 shares during the period. Natixis' holdings in M&T Bank were worth $2,410,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MTB. Y.D. More Investments Ltd boosted 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 valued at $39,000 after buying an additional 114 shares in the last quarter. Human Investing LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $44,000. Sierra Ocean LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $44,000. Loomis Sayles & Co. L P bought a new stake in shares of M&T Bank during the 4th quarter valued at $52,000. Finally, Principal Securities Inc. raised its position in shares of M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on MTB shares. Royal Bank of Canada cut their price objective on shares of 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. Barclays lowered their price objective on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. DA Davidson lowered their price objective on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reduced their target price on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $208.24.

M&T Bank Trading Down 1.0 %

M&T Bank stock traded down $1.72 during trading hours on Friday, hitting $167.44. The company had a trading volume of 829,177 shares, compared to its average volume of 1,120,758. The firm has a market cap of $27.51 billion, a P/E ratio of 11.44, 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 quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. The company has a 50-day moving average price of $173.82 and a two-hundred day moving average price of $190.86.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the previous year, the company posted $3.09 EPS. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.23%. M&T Bank's dividend payout ratio is currently 36.17%.

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

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 completion of the sale, the executive vice president now 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 legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

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.