Los Angeles Capital Management LLC Boosts Stock Position in M&T Bank Co. (NYSE:MTB)

Los Angeles Capital Management LLC raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 604,317 shares of the financial services provider’s stock after buying an additional 11,365 shares during the quarter. Los Angeles Capital Management LLC owned about 0.36% of M&T Bank worth $113,618,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MTB. FMR LLC raised its position in shares of M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the period. State Street Corp grew its stake in shares of M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after acquiring an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in M&T Bank by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after purchasing an additional 190,837 shares in the last quarter. Geode Capital Management LLC grew its stake in M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after purchasing an additional 66,337 shares in the last quarter. Finally, Senvest Management LLC boosted its stake in M&T Bank by 12.3% in the third quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after acquiring an additional 96,500 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MTB. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Wells Fargo & Company upped their price target on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Barclays lifted their price objective 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus price target of $221.68.

M&T Bank Trading Down 0.4 %

NYSE MTB opened at $192.82 on Tuesday. The company has a market cap of $31.69 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The business has a 50 day moving average price of $194.95 and a 200-day moving average price of $190.51. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business 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 dividend of $1.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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

Insider Buying and Selling at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

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.