Smartleaf Asset Management LLC Purchases 360 Shares of M&T Bank Co. (NYSE:MTB)

Smartleaf Asset Management LLC lifted its position in M&T Bank Co. (NYSE:MTB) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,516 shares of the financial services provider’s stock after acquiring an additional 360 shares during the quarter. Smartleaf Asset Management LLC’s holdings in M&T Bank were worth $663,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MTB. Hennion & Walsh Asset Management Inc. lifted its stake in M&T Bank by 34.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 2,018 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank in the third quarter worth approximately $44,000. Flagship Harbor Advisors LLC lifted its stake in shares of M&T Bank by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 1,295 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in M&T Bank during the 4th quarter valued at $290,000. Finally, Principal Financial Group Inc. grew its position in M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after acquiring an additional 2,797 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

Shares of MTB stock opened at $188.50 on Tuesday. The company has a market cap of $30.98 billion, a P/E ratio of 12.88, a PEG ratio of 1.38 and a beta of 0.79. 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 stock’s 50-day moving average is $195.01 and its 200 day moving average is $191.53. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70.

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

M&T Bank announced that its board has authorized a share buyback program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Monday, March 3rd. M&T Bank’s payout ratio is presently 36.91%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. DA Davidson lifted their target price on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. The Goldman Sachs Group lifted their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Barclays lifted their price target on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $221.68.

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.