M&T Bank Co. (NYSE:MTB) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group decreased its position in M&T Bank Co. (NYSE:MTB) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,960 shares of the financial services provider’s stock after selling 25,727 shares during the period. Schroder Investment Management Group owned approximately 0.10% of M&T Bank worth $29,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of M&T Bank during the 4th quarter valued at approximately $317,690,000. State Street Corp raised its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after purchasing an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. boosted its position in M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock worth $994,522,000 after purchasing an additional 252,583 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of M&T Bank in the third quarter valued at approximately $44,422,000. Finally, Amundi increased its holdings in M&T Bank by 43.5% in the 4th quarter. Amundi now owns 807,339 shares of the financial services provider’s stock worth $154,315,000 after acquiring an additional 244,709 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

MTB stock opened at $176.31 on Wednesday. The business’s 50-day moving average is $188.64 and its two-hundred day moving average is $192.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm has a market capitalization of $28.97 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company earned $2.74 earnings per share. Analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.06%. M&T Bank’s payout ratio is currently 36.91%.

Insider Activity at M&T Bank

In other 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 transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on MTB. Evercore ISI decreased their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Citigroup reduced their price objective on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, DA Davidson lifted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, M&T Bank has an average rating of “Hold” and a consensus target price of $218.79.

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