Bleakley Financial Group LLC Acquires 134 Shares of M&T Bank Co. (NYSE:MTB)

Bleakley Financial Group LLC grew its holdings in M&T Bank Co. (NYSE:MTB) by 3.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,535 shares of the financial services provider’s stock after purchasing an additional 134 shares during the quarter. Bleakley Financial Group LLC’s holdings in M&T Bank were worth $665,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hedeker Wealth LLC boosted its stake in M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after buying an additional 55 shares in the last quarter. Catalina Capital Group LLC boosted its stake in shares of M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 56 shares in the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 57 shares during the last quarter. Crestwood Advisors Group LLC increased its position in M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 57 shares in the last quarter. Finally, Meitav Investment House Ltd. lifted its stake in M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other news, EVP Michael J. Todaro sold 4,786 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total value of $1,024,682.60. Following the completion of the sale, the executive vice president now directly owns 2,787 shares in the company, valued at $596,696.70. This trade represents a 63.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,397 shares of company stock worth $6,379,459 in the last quarter. Company insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

MTB stock opened at $200.59 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $197.10 and its 200 day simple moving average is $188.04. M&T Bank Co. has a 12-month low of $129.36 and a 12-month high of $225.70. The firm has a market cap of $33.28 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.42 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its 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 return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the business posted $2.74 EPS. On average, analysts expect that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.69%. M&T Bank’s dividend payout ratio is currently 36.91%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MTB shares. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods boosted their price objective on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Bank of America increased their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Finally, Wells Fargo & Company raised their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $221.68.

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.