M&T Bank Co. (NYSE:MTB) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lowered its holdings in shares of M&T Bank Co. (NYSE:MTB) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,960 shares of the financial services provider’s stock after selling 25,727 shares during the period. Schroder Investment Management Group’s holdings in M&T Bank were worth $29,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its stake in shares of M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares during the period. Catalina Capital Group LLC lifted its position in M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 56 shares during the period. Parallel Advisors LLC grew its stake in shares of M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after purchasing an additional 60 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of M&T Bank by 1.2% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 63 shares during the period. Finally, Meridian Wealth Management LLC raised its stake in shares of M&T Bank by 3.8% during the fourth quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 66 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

M&T Bank stock opened at $176.31 on Wednesday. The firm has a market capitalization of $28.97 billion, a PE ratio of 12.05, a P/E/G ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The firm’s 50-day simple moving average is $188.64 and its 200 day simple moving average is $192.95. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating 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 last year, the firm earned $2.74 EPS. On average, equities research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s payout ratio is 36.91%.

M&T Bank announced that its board has approved a stock buyback program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in 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 a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

MTB has been the topic of several recent research reports. Compass Point boosted their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. DA Davidson raised their price objective 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. Evercore ISI dropped their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup reduced their price target on M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average price target of $218.79.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.