Daner Wealth Management LLC Takes Position in M&T Bank Co. (NYSE:MTB)

Daner Wealth Management LLC purchased a new stake in M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,282 shares of the financial services provider’s stock, valued at approximately $259,000.

Other large investors have also modified their holdings of the company. Plato Investment Management Ltd raised its holdings in shares of M&T Bank by 2,300.0% in the 3rd 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 in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank in the 3rd quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after buying an additional 158 shares during the last quarter. Y.D. More Investments Ltd grew its position in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after buying an additional 114 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of M&T Bank in the 3rd quarter worth approximately $44,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 1.3 %

MTB stock opened at $190.49 on Wednesday. The firm’s fifty day simple moving average is $194.83 and its 200-day simple moving average is $190.71. The company has a market capitalization of $31.30 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating 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 company posted $2.74 EPS. As a group, equities research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its board has initiated a stock repurchase 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 repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

Insider Activity

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’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 completion of the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

MTB has been the topic of a number of analyst reports. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group lifted their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI lifted their price objective on shares of 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus target price 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.