Fiduciary Alliance LLC Grows Stock Position in M&T Bank Co. (NYSE:MTB)

Fiduciary Alliance LLC boosted its stake in shares of M&T Bank Co. (NYSE:MTB) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,991 shares of the financial services provider’s stock after purchasing an additional 2,086 shares during the quarter. Fiduciary Alliance LLC’s holdings in M&T Bank were worth $4,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Czech National Bank lifted its position in M&T Bank by 5.7% in the fourth quarter. Czech National Bank now owns 35,975 shares of the financial services provider’s stock valued at $6,764,000 after acquiring an additional 1,956 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in M&T Bank by 9.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,774 shares of the financial services provider’s stock worth $3,166,000 after buying an additional 1,468 shares during the period. Fulton Bank N.A. lifted its stake in M&T Bank by 6.5% in the fourth quarter. Fulton Bank N.A. now owns 3,667 shares of the financial services provider’s stock valued at $689,000 after buying an additional 225 shares during the last quarter. Neville Rodie & Shaw Inc. acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $200,000. Finally, Nordea Investment Management AB increased its holdings in shares of M&T Bank by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 14,036 shares of the financial services provider’s stock valued at $2,643,000 after acquiring an additional 927 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE MTB traded up $0.55 during midday trading on Monday, hitting $188.30. The company’s stock had a trading volume of 107,530 shares, compared to its average volume of 981,993. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The firm’s fifty day moving average price is $203.16 and its 200-day moving average price is $182.33. The firm has a market cap of $31.24 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.79 and a beta of 0.79.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, sell-side analysts forecast that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Insider Activity

In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the sale, the director now owns 29,796 shares in the company, valued at $5,899,608. This represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock worth $17,211,278 over the last 90 days. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wedbush boosted their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Evercore ISI lifted their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. restated 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. One investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $216.86.

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.