M&T Bank Co. (NYSE:MTB) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 22.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,567,270 shares of the financial services provider's stock after purchasing an additional 286,049 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.94% of M&T Bank worth $294,662,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC raised its holdings in shares of M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after acquiring an additional 52 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of M&T Bank by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after acquiring an additional 53 shares in the last quarter. Catalina Capital Group LLC raised its holdings in shares of M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock worth $531,000 after acquiring an additional 56 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of M&T Bank by 1.7% during the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after acquiring an additional 60 shares in the last quarter. Finally, Forum Financial Management LP raised its holdings in shares of M&T Bank by 2.2% during the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock worth $540,000 after acquiring an additional 62 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup decreased their price objective on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Robert W. Baird decreased their price objective 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. JPMorgan Chase & Co. decreased their price target on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price target on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. One investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $209.33.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on 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 directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company's stock.

M&T Bank Stock Up 0.4%

MTB traded up $0.80 on Friday, hitting $187.78. 1,114,815 shares of the company were exchanged, compared to its average volume of 1,136,835. 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 price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $171.22 and a two-hundred day moving average price of $189.33.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion for the quarter, compared to analyst estimates 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 firm earned $3.09 earnings per share. On average, equities analysts predict 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.88%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

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