M&T Bank Co. (NYSE:MTB) Shares Sold by Candriam S.C.A.

Candriam S.C.A. lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,515 shares of the financial services provider’s stock after selling 13,714 shares during the quarter. Candriam S.C.A.’s holdings in M&T Bank were worth $22,470,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC lifted its stake in shares of M&T Bank by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,195,000 after purchasing an additional 52 shares during the last quarter. Catalina Capital Group LLC lifted its position in M&T Bank by 2.0% in the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after buying an additional 56 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after buying an additional 57 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of M&T Bank by 1.2% during 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 acquiring an additional 63 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its stake in shares of M&T Bank by 3.8% in the 4th quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 66 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

M&T Bank stock opened at $177.04 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $194.28 and a 200-day simple moving average of $191.47. The stock has a market cap of $29.09 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.38 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.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business posted $2.74 earnings per share. Equities analysts expect 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 will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.05%. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MTB shares. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group increased their target price on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.