O Shaughnessy Asset Management LLC Has $8.70 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

O Shaughnessy Asset Management LLC boosted its stake in shares of M&T Bank Co. (NYSE:MTB) by 17.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,261 shares of the financial services provider’s stock after acquiring an additional 6,834 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in M&T Bank were worth $8,698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Townsquare Capital LLC bought a new position in M&T Bank in the 3rd quarter worth approximately $230,000. Glenmede Trust Co. NA boosted its holdings in M&T Bank by 2.8% in the third quarter. Glenmede Trust Co. NA now owns 8,873 shares of the financial services provider’s stock valued at $1,580,000 after acquiring an additional 238 shares during the last quarter. Public Sector Pension Investment Board increased its position in M&T Bank by 2.8% in the third quarter. Public Sector Pension Investment Board now owns 29,095 shares of the financial services provider’s stock worth $5,182,000 after purchasing an additional 800 shares during the period. Captrust Financial Advisors raised its holdings in M&T Bank by 3.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,761 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 270 shares during the last quarter. Finally, Atom Investors LP bought a new position in shares of M&T Bank in the 3rd quarter valued at about $9,151,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTB. Wells Fargo & Company reduced their price objective on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating on the stock in a research note on Friday. Compass Point raised their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays upped their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Citigroup reduced their target price on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, DA Davidson upped their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $218.79.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $178.94 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The stock’s 50-day moving average is $189.08 and its 200-day moving average is $192.90.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company posted $2.74 earnings per share. Equities analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.02%. M&T Bank’s payout ratio is currently 36.91%.

M&T Bank declared that its board has authorized a share buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.