Cantor Fitzgerald Investment Advisors L.P. Sells 70 Shares of M&T Bank Co. (NYSE:MTB)

Cantor Fitzgerald Investment Advisors L.P. trimmed its stake in M&T Bank Co. (NYSE:MTB) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,252 shares of the financial services provider’s stock after selling 70 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in M&T Bank were worth $3,432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Czech National Bank boosted its stake in shares of M&T Bank by 7.0% during the 3rd quarter. Czech National Bank now owns 34,019 shares of the financial services provider’s stock worth $6,059,000 after purchasing an additional 2,224 shares during the period. Mather Group LLC. raised its holdings in shares of M&T Bank by 5.0% in the third quarter. Mather Group LLC. now owns 2,599 shares of the financial services provider’s stock worth $463,000 after buying an additional 123 shares during the period. Atomi Financial Group Inc. purchased a new position in M&T Bank during the 3rd quarter valued at $252,000. CWM LLC grew its position in M&T Bank by 9.1% in the 3rd quarter. CWM LLC now owns 6,107 shares of the financial services provider’s stock valued at $1,088,000 after acquiring an additional 511 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,397 shares of company stock valued at $6,379,459. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MTB shares. Wells Fargo & Company boosted their target price on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Royal Bank of Canada raised their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Bank of America increased their price objective on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Finally, Evercore ISI increased their price target on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Stock Down 0.7 %

MTB stock opened at $200.59 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. The firm’s fifty day simple moving average is $197.49 and its 200-day simple moving average is $187.72. M&T Bank Co. has a 12 month low of $129.36 and a 12 month high of $225.70. The company has a market capitalization of $33.28 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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. 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 authorized a share repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

M&T Bank Dividend Announcement

The firm also recently announced 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 of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. M&T Bank’s dividend payout ratio (DPR) 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.