M&T Bank Co. (NYSE:MTB) Shares Purchased by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. lifted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,653 shares of the financial services provider’s stock after purchasing an additional 740 shares during the quarter. M&T Bank comprises about 2.5% of O Keefe Stevens Advisory Inc.’s holdings, making the stock its 17th biggest holding. O Keefe Stevens Advisory Inc.’s holdings in M&T Bank were worth $8,207,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hedeker Wealth LLC raised its holdings in shares of M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after acquiring an additional 57 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 57 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in M&T Bank by 54.4% during 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 in the last quarter. Finally, Meitav Investment House Ltd. raised its stake in M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

M&T Bank stock opened at $196.88 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70. The stock’s 50 day moving average price is $202.66 and its 200 day moving average price is $183.16. The firm has a market capitalization of $32.67 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period in the prior year, the firm earned $2.74 earnings per share. As a group, sell-side analysts expect that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. M&T Bank’s payout ratio is currently 39.97%.

Insider Activity

In related news, Director John P. Barnes sold 20,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the sale, the director now owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This trade represents a 28.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,994 shares of company stock valued at $17,211,278. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Compass Point lifted their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada upped their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Bank of America boosted their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. One equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.