Boston Trust Walden Corp Buys 74 Shares of M&T Bank Co. (NYSE:MTB)

Boston Trust Walden Corp increased its stake in M&T Bank Co. (NYSE:MTB) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,833 shares of the financial services provider’s stock after acquiring an additional 74 shares during the quarter. Boston Trust Walden Corp’s holdings in M&T Bank were worth $9,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Plato Investment Management Ltd lifted its stake in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new stake in M&T Bank in the third quarter valued at $32,000. Hexagon Capital Partners LLC raised 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 purchasing an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of M&T Bank in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Down 2.6 %

Shares of NYSE:MTB opened at $196.10 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $199.28 and a two-hundred day simple moving average of $187.11. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. The stock has a market capitalization of $32.54 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.41 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the company earned $2.74 earnings per share. On average, research analysts anticipate that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank declared that its board has authorized a stock repurchase plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued 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 2.75%. M&T Bank’s payout ratio is 36.91%.

Insiders Place Their Bets

In other M&T Bank news, Director Kirk W. Walters sold 1,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total transaction of $334,249.80. Following the completion of the sale, the director now owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. The trade was a 43.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael J. Todaro sold 4,786 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the transaction, the executive vice president now directly owns 2,787 shares in the company, valued at $596,696.70. This represents a 63.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,987 shares of company stock valued at $6,713,709. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MTB. DA Davidson increased their price target on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Evercore ISI upped their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America lifted their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $221.68.

M&T Bank Company 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.