Philip James Wealth Mangement LLC Sells 804 Shares of M&T Bank Co. (NYSE:MTB)

Philip James Wealth Mangement LLC cut its holdings in M&T Bank Co. (NYSE:MTB) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,096 shares of the financial services provider’s stock after selling 804 shares during the period. Philip James Wealth Mangement LLC’s holdings in M&T Bank were worth $770,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Plato Investment Management Ltd increased 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 worth $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank in the 3rd quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in M&T Bank by 122.6% during the 4th 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 during the last quarter. Finally, Sierra Ocean LLC bought a new position in M&T Bank during the 4th quarter valued at about $44,000. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on MTB. Barclays upped their price target on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. DA Davidson upped their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Evercore ISI upped their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their target price on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $221.68.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’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 owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was 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 directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,611 shares of company stock valued at $5,354,777 over the last 90 days. Insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

Shares of MTB opened at $198.75 on Monday. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The company has a 50 day moving average price of $195.59 and a 200-day moving average price of $188.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. The stock has a market capitalization of $32.98 billion, a PE ratio of 13.59, a PEG ratio of 1.42 and a beta of 0.79.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating 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 quarter in the previous year, the business earned $2.74 earnings per share. Equities analysts predict that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.72%. M&T Bank’s payout ratio is 36.91%.

M&T Bank declared that its board has initiated a share buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

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.