Benjamin Edwards Inc. Sells 281 Shares of M&T Bank Co. (NYSE:MTB)

Benjamin Edwards Inc. cut its holdings in shares of M&T Bank Co. (NYSE:MTB) by 4.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,745 shares of the financial services provider’s stock after selling 281 shares during the period. Benjamin Edwards Inc.’s holdings in M&T Bank were worth $1,081,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. lifted its stake in shares of M&T Bank by 34.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 2,018 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in shares of M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after buying an additional 1,295 shares during the last quarter. US Bancorp DE raised its stake in shares of M&T Bank by 24.3% during the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock worth $1,576,000 after acquiring an additional 1,639 shares in the last quarter. Summit Trail Advisors LLC purchased a new stake in M&T Bank during the fourth quarter valued at approximately $290,000. Finally, Valeo Financial Advisors LLC acquired a new stake in M&T Bank in the fourth quarter valued at approximately $297,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MTB shares. JPMorgan Chase & Co. dropped their target price on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Thursday, April 24th. Evercore ISI decreased their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Barclays lowered their price objective on shares of M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $208.24.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Stock Up 2.2 %

M&T Bank stock opened at $177.56 on Friday. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. The firm has a market cap of $29.17 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The business’s 50-day moving average price is $170.25 and its 200 day moving average price is $189.74. 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 posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm earned $3.09 earnings per share. As a group, sell-side analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

M&T Bank announced that its Board of Directors has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.