M&T Bank Co. (NYSE:MTB) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its holdings in M&T Bank Co. (NYSE:MTBGet Rating) by 16.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,015 shares of the financial services provider’s stock after selling 390 shares during the quarter. Shell Asset Management Co.’s holdings in M&T Bank were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTB. AlphaCrest Capital Management LLC purchased a new position in shares of M&T Bank during the 1st quarter valued at approximately $306,000. Vontobel Holding Ltd. grew its position in M&T Bank by 29.1% in the 1st quarter. Vontobel Holding Ltd. now owns 2,180 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 491 shares in the last quarter. Aviva PLC grew its holdings in M&T Bank by 37.7% during the 1st quarter. Aviva PLC now owns 27,430 shares of the financial services provider’s stock worth $4,649,000 after acquiring an additional 7,503 shares in the last quarter. Prudential PLC purchased a new position in M&T Bank in the first quarter valued at $626,000. Finally, Cetera Investment Advisers increased its holdings in shares of M&T Bank by 60.8% in the 1st quarter. Cetera Investment Advisers now owns 5,978 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 2,260 shares during the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.

M&T Bank Stock Performance

MTB opened at $116.23 on Tuesday. M&T Bank Co. has a 1-year low of $109.36 and a 1-year high of $193.42. The business has a 50 day moving average price of $125.18 and a two-hundred day moving average price of $145.89. The company has a market capitalization of $19.53 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 0.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.96.

M&T Bank (NYSE:MTBGet Rating) last announced its quarterly earnings data on Monday, April 17th. The financial services provider reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.03. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.37 billion. M&T Bank had a return on equity of 11.97% and a net margin of 23.20%. During the same quarter in the prior year, the firm earned $2.73 EPS. Research analysts predict that M&T Bank Co. will post 17.26 EPS for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Monday, March 6th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.47%. M&T Bank’s dividend payout ratio is 40.28%.

Analysts Set New Price Targets

A number of research firms have recently commented on MTB. JPMorgan Chase & Co. cut their target price on M&T Bank from $160.00 to $125.00 in a research report on Thursday, April 6th. Barclays reduced their price target on M&T Bank from $194.00 to $153.00 in a report on Wednesday, April 12th. Morgan Stanley reduced their price target on M&T Bank from $212.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, April 5th. Bank of America lifted their price objective on M&T Bank from $141.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 18th. Finally, Royal Bank of Canada lowered their price objective on M&T Bank from $190.00 to $183.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $165.10.

M&T Bank Profile

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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.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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