Los Angeles Capital Management LLC Makes New $34.65 Million Investment in M&T Bank Co. (NYSE:MTB)

Los Angeles Capital Management LLC purchased a new position in M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 252,733 shares of the financial services provider's stock, valued at approximately $34,645,000. Los Angeles Capital Management LLC owned about 0.15% of M&T Bank at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of M&T Bank during the 3rd quarter valued at about $833,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider's stock worth $504,000 after acquiring an additional 305 shares in the last quarter. NBC Securities Inc. bought a new position in shares of M&T Bank in the 3rd quarter valued at approximately $299,000. Stevens Capital Management LP acquired a new stake in M&T Bank in the 4th quarter worth approximately $320,000. Finally, Metis Global Partners LLC lifted its holdings 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 worth $893,000 after purchasing an additional 931 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 3,961 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now directly owns 5,000 shares in the company, valued at $718,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Doris P. Meister sold 3,961 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares of the company's stock, valued at $718,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Insiders sold 46,119 shares of company stock valued at $6,679,812 in the last quarter. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI raised their target price 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. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 7th. StockNews.com downgraded M&T Bank from a "hold" rating to a "sell" rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $162.00 to $170.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group reduced their price objective on M&T Bank from $154.00 to $151.00 and set a "hold" rating for the company in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of "Hold" and a consensus target price of $158.48.

M&T Bank Stock Up 0.2 %

Shares of M&T Bank stock traded up $0.31 during trading hours on Friday, reaching $146.58. 531,626 shares of the company's stock were exchanged, compared to its average volume of 1,157,556. The company has a 50 day moving average of $141.64 and a two-hundred day moving average of $134.37. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $24.42 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.22 and a beta of 0.78.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the company posted $4.09 earnings per share. On average, sell-side analysts forecast that M&T Bank Co. will post 13.92 EPS for the current fiscal 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 3.55%. The ex-dividend date was Friday, March 1st. M&T Bank's dividend payout ratio (DPR) is presently 35.16%.

M&T Bank Company 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.

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