2,920 Shares in M&T Bank Co. (NYSE:MTB) Bought by Sapient Capital LLC

Sapient Capital LLC bought a new position in shares of M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,920 shares of the financial services provider’s stock, valued at approximately $400,000.

Several other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. increased its holdings in M&T Bank by 15.5% in the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock valued at $612,138,000 after buying an additional 650,796 shares in the last quarter. Smead Capital Management Inc. acquired a new position in shares of M&T Bank in the fourth quarter worth about $59,418,000. LSV Asset Management raised its position 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 worth $140,176,000 after acquiring an additional 430,356 shares during the period. Massachusetts Financial Services Co. MA raised its position 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 worth $218,308,000 after acquiring an additional 393,116 shares during the period. Finally, Senvest Management LLC raised its position 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 worth $53,956,000 after acquiring an additional 314,300 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In other news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the sale, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the sale, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,119 shares of company stock worth $6,679,812. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

NYSE:MTB opened at $146.58 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The stock has a market capitalization of $24.42 billion, a P/E ratio of 9.91, a PEG ratio of 1.23 and a beta of 0.78. The company has a 50 day moving average price of $141.81 and a 200 day moving average price of $134.70. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $4.09 EPS. Equities research analysts forecast that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.55%. M&T Bank’s payout ratio is 35.16%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTB. StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Jefferies Financial Group reduced their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. 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 report on Thursday, March 28th. Finally, Wedbush restated an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $158.48.

About M&T Bank

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.