Vestmark Advisory Solutions Inc. lowered its position in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 7.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,599 shares of the financial services provider’s stock after selling 737 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in M&T Bank were worth $1,393,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp raised its position in M&T Bank by 20.4% in the second quarter. State Street Corp now owns 8,629,986 shares of the financial services provider’s stock valued at $1,375,533,000 after purchasing an additional 1,460,870 shares during the last quarter. Millennium Management LLC raised its stake in shares of M&T Bank by 5,905.9% during the second quarter. Millennium Management LLC now owns 828,809 shares of the financial services provider’s stock valued at $132,104,000 after acquiring an additional 815,009 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of M&T Bank by 2,516.6% during the third quarter. Neuberger Berman Group LLC now owns 793,087 shares of the financial services provider’s stock worth $139,841,000 after purchasing an additional 762,777 shares during the period. Royal Bank of Canada grew its stake in shares of M&T Bank by 140.8% in the first quarter. Royal Bank of Canada now owns 545,786 shares of the financial services provider’s stock worth $92,511,000 after purchasing an additional 319,116 shares during the last quarter. Finally, Select Equity Group L.P. bought a new position in shares of M&T Bank during the first quarter worth about $53,996,000. Institutional investors and hedge funds own 84.10% of the company’s stock.
M&T Bank Stock Down 0.0 %
Shares of NYSE:MTB opened at $119.57 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.17. M&T Bank Co. has a fifty-two week low of $110.00 and a fifty-two week high of $193.42. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.75 and a beta of 0.82. The firm’s 50 day moving average price is $144.47 and its 200 day moving average price is $157.47.
M&T Bank Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 6th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 3rd. This is a boost from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 annualized dividend and a yield of 4.35%. M&T Bank’s dividend payout ratio (DPR) is 45.14%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on MTB. Citigroup upgraded shares of M&T Bank from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $178.00 to $155.00 in a report on Monday, March 27th. Wedbush raised shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Tuesday, January 3rd. Morgan Stanley lowered their price objective on shares of M&T Bank from $225.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. Barclays downgraded shares of M&T Bank from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $225.00 to $194.00 in a report on Tuesday, January 3rd. Finally, Odeon Capital Group raised M&T Bank from a “hold” rating to a “buy” rating and set a $171.76 price objective on the stock in a research report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $180.80.
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.
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