Anchor Capital Advisors LLC Buys 19,100 Shares of M&T Bank Co. (NYSE:MTB)

Anchor Capital Advisors LLC grew its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 419,016 shares of the financial services provider's stock after acquiring an additional 19,100 shares during the period. M&T Bank accounts for approximately 1.5% of Anchor Capital Advisors LLC's investment portfolio, making the stock its 20th biggest holding. Anchor Capital Advisors LLC owned approximately 0.25% of M&T Bank worth $57,439,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MTB. GSA Capital Partners LLP acquired a new position in M&T Bank in the third quarter valued at approximately $833,000. Tokio Marine Asset Management Co. Ltd. increased its stake in M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider's stock valued at $504,000 after purchasing an additional 305 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of M&T Bank during the third quarter valued at about $299,000. Stevens Capital Management LP bought a new position in shares of M&T Bank during the 4th quarter worth about $320,000. Finally, Metis Global Partners LLC increased its position in M&T Bank by 15.2% in the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider's stock valued at $893,000 after buying an additional 931 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

M&T Bank stock traded down $0.84 during midday trading on Monday, reaching $145.54. 735,563 shares of the stock were exchanged, compared to its average volume of 1,183,259. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The firm has a market cap of $24.25 billion, a PE ratio of 9.84, a PEG ratio of 1.22 and a beta of 0.80. The company's fifty day moving average is $141.15 and its 200-day moving average is $134.03.

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 the consensus estimate 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 company had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the business posted $4.09 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, March 1st. M&T Bank's payout ratio is 35.16%.

Insider Activity

In related news, EVP Doris P. Meister sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the sale, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company's stock, valued at approximately $923,215. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company's stock, valued at $962,350.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,119 shares of company stock valued at $6,812,112. Corporate insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

MTB has been the topic of several recent research reports. DA Davidson reiterated a "neutral" rating and issued a $159.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Wells Fargo & Company lifted their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 16th. Evercore ISI boosted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the company an "in-line" rating in a research note on Thursday, March 28th. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Bank of America upped their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $158.48.

About M&T Bank

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.