Reinhart Partners LLC. Has $11.34 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Reinhart Partners LLC. reduced its stake in M&T Bank Co. (NYSE:MTB) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,317 shares of the financial services provider’s stock after selling 13,186 shares during the quarter. Reinhart Partners LLC.’s holdings in M&T Bank were worth $11,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Plato Investment Management Ltd increased its holdings in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank during the third quarter valued at approximately $32,000. Hexagon Capital Partners LLC increased its holdings in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of M&T Bank during the third quarter valued at approximately $44,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Friday, October 4th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. DA Davidson boosted their price objective on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and upped their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Finally, Barclays upped their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus target price of $216.86.

Insider Activity

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. The trade was a 23.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is currently owned by insiders.

M&T Bank Price Performance

NYSE MTB traded up $1.52 during trading on Monday, reaching $189.27. The company’s stock had a trading volume of 470,994 shares, compared to its average volume of 1,035,377. The stock has a market capitalization of $31.40 billion, a PE ratio of 14.01, a P/E/G ratio of 2.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a fifty day moving average of $203.16 and a 200 day moving average of $182.33. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. Analysts expect that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.85%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

M&T Bank Company 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.