Good Life Advisors LLC Acquires Shares of 1,209 M&T Bank Co. (NYSE:MTB)

Good Life Advisors LLC acquired a new stake in M&T Bank Co. (NYSE:MTB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,209 shares of the financial services provider’s stock, valued at approximately $227,000.

A number of other large investors also recently modified their holdings of MTB. Plato Investment Management Ltd grew its position in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank in the 3rd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. Y.D. More Investments Ltd grew its position in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares during the last quarter. Finally, Human Investing LLC purchased a new position in shares of M&T Bank in the 4th quarter valued at $44,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Down 2.0 %

MTB stock opened at $193.48 on Friday. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The stock has a market capitalization of $32.10 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. The company has a fifty day moving average of $195.09 and a 200-day moving average of $189.87.

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

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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 buy up to 12.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MTB shares. DA Davidson increased their target price on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and increased their target price for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Wells Fargo & Company raised their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group raised their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $221.68.

Insider Activity at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

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