Paradigm Asset Management Co. LLC Invests $771,000 in M&T Bank Co. (NYSE:MTB)

Paradigm Asset Management Co. LLC purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,100 shares of the financial services provider’s stock, valued at approximately $771,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Plato Investment Management Ltd boosted its position in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of M&T Bank during the third quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares during the period. Y.D. More Investments Ltd boosted its holdings in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank in the third quarter worth about $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 2.0 %

Shares of NYSE:MTB opened at $193.48 on Friday. The firm has a market cap of $32.10 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.40 and a beta of 0.79. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The company’s fifty day simple moving average is $195.09 and its 200 day simple moving average is $189.87. The company has a quick ratio of 0.99, a current ratio of 0.93 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 earnings per share (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 period in the prior year, the business posted $2.74 EPS. As a group, research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s payout ratio is 36.91%.

Analyst Ratings Changes

Several brokerages recently weighed in on MTB. Wells Fargo & Company increased 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. Barclays raised their price target on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group upped their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Evercore ISI upped their price target on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average 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.