Bradley Foster & Sargent Inc. CT Lowers Position in M&T Bank Co. (NYSE:MTB)

Bradley Foster & Sargent Inc. CT decreased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 8,133 shares of the financial services provider’s stock after selling 275 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in M&T Bank were worth $1,529,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MTB. Plato Investment Management Ltd lifted its position in M&T Bank by 2,300.0% during the third 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 last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank during the 3rd quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings 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 acquiring an additional 158 shares during the last quarter. Y.D. More Investments Ltd grew its position in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 114 shares in the last quarter. Finally, Human Investing LLC bought a new position in M&T Bank in the fourth quarter valued at $44,000. 84.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, 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 value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MTB shares. Compass Point lifted their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays boosted their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Evercore ISI upped their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. Finally, DA Davidson upped their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $221.68.

M&T Bank Price Performance

MTB opened at $193.48 on Friday. The firm has a market cap of $32.10 billion, a PE ratio of 13.23, a P/E/G ratio of 1.40 and a beta of 0.79. The stock has a 50-day moving average price of $195.09 and a 200-day moving average price of $189.87. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm earned $2.74 EPS. Sell-side analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has initiated a share buyback 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 repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.79%. M&T Bank’s payout ratio is 36.91%.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.