Premier Fund Managers Ltd grew its holdings in M&T Bank Co. (NYSE:MTB) by 26.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 278,100 shares of the financial services provider’s stock after acquiring an additional 57,600 shares during the quarter. M&T Bank accounts for approximately 1.5% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 12th biggest position. Premier Fund Managers Ltd owned about 0.22% of M&T Bank worth $34,956,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Community Bank N.A. lifted its position in M&T Bank by 0.9% during the fourth quarter. Community Bank N.A. now owns 9,441 shares of the financial services provider’s stock worth $1,202,000 after purchasing an additional 80 shares during the period. Kestra Advisory Services LLC bought a new stake in M&T Bank during the third quarter worth about $563,000. Cambria Investment Management L.P. lifted its position in M&T Bank by 2.6% during the third quarter. Cambria Investment Management L.P. now owns 4,407 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 113 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in M&T Bank by 1.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,586 shares of the financial services provider’s stock worth $698,000 after purchasing an additional 126 shares during the period. Finally, Chapman Investment Management LLC lifted its position in M&T Bank by 2.6% during the fourth quarter. Chapman Investment Management LLC now owns 5,155 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 133 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on MTB shares. Barclays upped their price objective on shares of M&T Bank from $159.00 to $163.00 and gave the stock an “overweight” rating in a research report on Monday, January 4th. Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Wednesday, January 27th. Bank of America raised M&T Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 7th. Royal Bank of Canada boosted their target price on M&T Bank from $150.00 to $166.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of M&T Bank in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. M&T Bank currently has an average rating of “Hold” and an average target price of $134.00.
NYSE:MTB traded up $1.23 on Tuesday, reaching $156.50. 6,949 shares of the stock traded hands, compared to its average volume of 835,054. The firm has a market capitalization of $20.08 billion, a price-to-earnings ratio of 15.55 and a beta of 1.23. The company’s 50 day moving average is $142.10 and its 200-day moving average is $117.87. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. M&T Bank Co. has a 1-year low of $85.09 and a 1-year high of $165.78.
M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, January 20th. The financial services provider reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $3.03 by $0.49. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.46 billion. M&T Bank had a net margin of 21.49% and a return on equity of 9.45%. During the same quarter in the prior year, the firm posted $3.60 EPS. On average, equities research analysts forecast that M&T Bank Co. will post 9.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Monday, March 1st will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, February 26th. M&T Bank’s dividend payout ratio is presently 32.00%.
M&T Bank declared that its board has initiated a share repurchase program on Wednesday, January 20th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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