5,243 Shares in M&T Bank Co. (NYSE:MTB) Bought by Stevens Capital Management LP

Stevens Capital Management LP acquired a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,243 shares of the financial services provider’s stock, valued at approximately $986,000.

A number of other institutional investors also recently added to or reduced their stakes in MTB. Empowered Funds LLC boosted its position in M&T Bank by 9.7% during the 3rd quarter. Empowered Funds LLC now owns 2,767 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 245 shares during the period. Pathstone Holdings LLC boosted its position in M&T Bank by 0.7% during the 3rd quarter. Pathstone Holdings LLC now owns 28,625 shares of the financial services provider’s stock worth $5,099,000 after acquiring an additional 185 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in M&T Bank during the 3rd quarter worth $1,564,000. Citizens Financial Group Inc. RI boosted its position in M&T Bank by 28.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,894 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 420 shares during the period. Finally, Raymond James Trust N.A. boosted its position in M&T Bank by 27.2% during the 3rd quarter. Raymond James Trust N.A. now owns 3,065 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 656 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Up 0.7 %

Shares of M&T Bank stock opened at $178.19 on Friday. The firm has a market capitalization of $29.27 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 12-month low of $133.03 and a 12-month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $190.99 and its 200-day moving average is $192.18.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the business earned $2.74 EPS. Equities analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.03%. The ex-dividend date is Monday, March 3rd. M&T Bank’s payout ratio is 36.91%.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

MTB has been the subject of a number of analyst reports. Evercore ISI reduced their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods upped their price objective on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Morgan Stanley cut their price objective on 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, The Goldman Sachs Group upped their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average price target of $222.03.

About M&T Bank

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.