M&T Bank Co. (NYSE:MTB) Position Reduced by Brown Advisory Inc.

Brown Advisory Inc. decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 36,387 shares of the financial services provider’s stock after selling 348 shares during the quarter. Brown Advisory Inc.’s holdings in M&T Bank were worth $4,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in M&T Bank by 15.5% during the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock valued at $612,138,000 after purchasing an additional 650,796 shares during the period. Smead Capital Management Inc. purchased a new stake in shares of M&T Bank in the fourth quarter valued at $59,418,000. LSV Asset Management lifted its holdings in shares of M&T Bank by 63.5% in the third quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock valued at $140,176,000 after purchasing an additional 430,356 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of M&T Bank by 29.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock valued at $218,308,000 after purchasing an additional 393,116 shares in the last quarter. Finally, Senvest Management LLC lifted its holdings in shares of M&T Bank by 279.6% in the third quarter. Senvest Management LLC now owns 426,700 shares of the financial services provider’s stock valued at $53,956,000 after purchasing an additional 314,300 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $158.48.

Insider Transactions at M&T Bank

In related news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at $5,481,660. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,034 shares of company stock valued at $19,706,471. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 0.2 %

NYSE MTB opened at $153.03 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50-day simple moving average of $144.90 and a 200 day simple moving average of $138.07. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $156.65. The stock has a market cap of $25.53 billion, a PE ratio of 10.35, a PEG ratio of 3.00 and a beta of 0.78.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the business earned $4.09 EPS. On average, research analysts forecast that M&T Bank Co. will post 14.02 EPS for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $1.35 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.53%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.