Bleakley Financial Group LLC Has $665,000 Stake in M&T Bank Co. (NYSE:MTB)

Bleakley Financial Group LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,535 shares of the financial services provider’s stock after buying an additional 134 shares during the period. Bleakley Financial Group LLC’s holdings in M&T Bank were worth $665,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Plato Investment Management Ltd boosted its position in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank in the third quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in 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 worth $37,000 after purchasing 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 valued at $39,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank in the 3rd quarter valued at $44,000. 84.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the transaction, the director now owns 35,480 shares in the company, valued at $7,715,126. This trade represents a 36.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,397 shares of company stock worth $6,379,459 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Trading Down 0.7 %

Shares of NYSE:MTB opened at $200.59 on Monday. M&T Bank Co. has a 12-month low of $129.36 and a 12-month high of $225.70. The business has a 50 day moving average of $197.10 and a 200-day moving average of $188.04. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The stock has a market cap of $33.28 billion, a PE ratio of 13.71, a P/E/G ratio of 1.42 and a beta of 0.79.

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

M&T Bank declared that its board has approved a share buyback plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is 36.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price objective 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. Bank of America raised their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Evercore ISI raised their target price on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.