M&T Bank Co. (NYSE:MTB) Stake Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in M&T Bank Co. (NYSE:MTB) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,068,913 shares of the financial services provider’s stock after selling 396,982 shares during the quarter. JPMorgan Chase & Co.’s holdings in M&T Bank were worth $1,141,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MTB. Y.D. More Investments Ltd grew its stake in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC bought a new position in M&T Bank in the 4th quarter valued at about $44,000. Sierra Ocean LLC acquired a new position in M&T Bank during the 4th quarter valued at about $44,000. Principal Securities Inc. raised its position in shares of M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after buying an additional 132 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of M&T Bank in the 3rd quarter worth approximately $91,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Trading Down 1.4 %

M&T Bank stock opened at $179.64 on Friday. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a 50 day moving average price of $189.87 and a 200 day moving average price of $192.40.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate 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 previous year, the firm earned $2.74 earnings per share. Research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its board has authorized a share buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.01%. M&T Bank’s dividend payout ratio is 36.91%.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup lowered their price objective on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays boosted their price objective on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Evercore ISI lowered their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Compass Point upped their price target 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $219.97.

About M&T Bank

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.