Stephens Inc. AR trimmed its stake in M&T Bank Co. (NYSE:MTB – Get Rating) by 73.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,482 shares of the financial services provider’s stock after selling 4,168 shares during the period. Stephens Inc. AR’s holdings in M&T Bank were worth $215,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. Fifth Third Bancorp raised its position in shares of M&T Bank by 42.2% in the fourth quarter. Fifth Third Bancorp now owns 54,844 shares of the financial services provider’s stock valued at $7,956,000 after purchasing an additional 16,267 shares during the period. Daymark Wealth Partners LLC acquired a new position in M&T Bank during the 4th quarter worth $479,000. Shufro Rose & Co. LLC boosted its holdings in M&T Bank by 8.1% during the fourth quarter. Shufro Rose & Co. LLC now owns 2,334 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 175 shares during the period. Empirical Finance LLC grew its position in shares of M&T Bank by 10.8% in the fourth quarter. Empirical Finance LLC now owns 3,901 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 380 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of M&T Bank by 151.2% in the fourth quarter. National Bank of Canada FI now owns 17,316 shares of the financial services provider’s stock worth $2,512,000 after purchasing an additional 10,424 shares during the period. 84.10% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MTB has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on M&T Bank from $212.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday. Wolfe Research downgraded shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Thursday, March 23rd. JPMorgan Chase & Co. dropped their price objective on shares of M&T Bank from $160.00 to $125.00 in a report on Thursday. Barclays cut shares of M&T Bank from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $225.00 to $194.00 in a research note on Tuesday, January 3rd. Finally, Wedbush upgraded M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a research report on Tuesday, January 3rd. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, M&T Bank presently has an average rating of “Moderate Buy” and an average target price of $172.32.
M&T Bank Trading Up 0.1 %
M&T Bank (NYSE:MTB – Get Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $4.57 EPS for the quarter, topping the consensus estimate of $4.47 by $0.10. M&T Bank had a return on equity of 11.41% and a net margin of 23.15%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the business earned $3.37 EPS. Research analysts forecast that M&T Bank Co. will post 17.56 earnings per share for the current fiscal year.
M&T Bank Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Monday, March 6th were paid a $1.30 dividend. The ex-dividend date was Friday, March 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.42%. M&T Bank’s dividend payout ratio (DPR) is 45.14%.
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.
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