Handelsbanken Fonder AB Decreases Stake in M&T Bank Co. (NYSE:MTB)

Handelsbanken Fonder AB trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 32.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,685 shares of the financial services provider's stock after selling 20,387 shares during the quarter. Handelsbanken Fonder AB's holdings in M&T Bank were worth $5,714,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in shares of M&T Bank by 15.5% in the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider's stock worth $612,138,000 after purchasing an additional 650,796 shares during the period. Smead Capital Management Inc. bought a new position in shares of M&T Bank in the fourth quarter worth approximately $59,418,000. LSV Asset Management boosted its position in shares of M&T Bank by 63.5% in the third quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider's stock worth $140,176,000 after purchasing an additional 430,356 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of M&T Bank by 29.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider's stock worth $218,308,000 after purchasing an additional 393,116 shares during the period. Finally, Senvest Management LLC boosted its position in shares of M&T Bank by 279.6% in the third quarter. Senvest Management LLC now owns 426,700 shares of the financial services provider's stock worth $53,956,000 after purchasing an additional 314,300 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Price Performance

M&T Bank stock traded down $0.52 during mid-day trading on Friday, reaching $146.38. 657,022 shares of the company's stock traded hands, compared to its average volume of 1,188,787. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.24 and a beta of 0.80. The stock has a 50 day moving average of $140.84 and a two-hundred day moving average of $133.63. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.93.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm earned $4.09 EPS. Equities analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Friday, March 1st. M&T Bank's dividend payout ratio (DPR) is 35.16%.

Analysts Set New Price Targets

MTB has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an "in-line" rating in a research report on Thursday, March 28th. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Thursday. Barclays boosted their target price on shares of M&T Bank from $150.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 2nd. DA Davidson reissued a "neutral" rating and issued a $159.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Finally, Jefferies Financial Group lowered their target price on shares of M&T Bank from $154.00 to $151.00 and set a "hold" rating on the stock in a report on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $158.48.

Insider Transactions at M&T Bank

In other news, EVP Doris P. Meister sold 1,638 shares of the company's stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at $464,662.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of the company's stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at $464,662.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the company's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,119 shares of company stock worth $5,341,012. Insiders own 0.82% of the company's stock.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.