Vinva Investment Management Ltd Reduces Stock Holdings in M&T Bank Co. (NYSE:MTB)

Vinva Investment Management Ltd decreased its holdings in M&T Bank Co. (NYSE:MTB) by 81.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,883 shares of the financial services provider’s stock after selling 8,138 shares during the quarter. Vinva Investment Management Ltd’s holdings in M&T Bank were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Y.D. More Investments Ltd lifted its position in M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares during the period. Human Investing LLC purchased a new position in M&T Bank during the fourth quarter valued at $44,000. Sierra Ocean LLC purchased a new position in M&T Bank during the fourth quarter valued at $44,000. Principal Securities Inc. lifted its position in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after buying an additional 132 shares during the period. Finally, Brooklyn Investment Group purchased a new position in M&T Bank during the third quarter valued at $91,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MTB shares. Barclays lifted 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 lifted their price target on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Evercore ISI lowered their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Finally, Compass Point lifted their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $222.03.

M&T Bank Trading Up 0.7 %

M&T Bank stock opened at $178.19 on Friday. The business has a 50-day simple moving average of $190.99 and a two-hundred day simple moving average of $192.04. The company has a market cap of $29.27 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 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 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 company posted $2.74 earnings per share. Analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company 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 dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.03%. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

M&T Bank 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.