Desjardins Global Asset Management Inc. Sells 112 Shares of M&T Bank Co. (NYSE:MTB)

Desjardins Global Asset Management Inc. lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,316 shares of the financial services provider’s stock after selling 112 shares during the period. Desjardins Global Asset Management Inc.’s holdings in M&T Bank were worth $180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of M&T Bank during the 4th quarter worth approximately $307,000. Mackenzie Financial Corp lifted its holdings in shares of M&T Bank by 73.9% during the 4th quarter. Mackenzie Financial Corp now owns 36,222 shares of the financial services provider’s stock worth $4,965,000 after acquiring an additional 15,389 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of M&T Bank during the 4th quarter worth approximately $1,371,000. Baystate Wealth Management LLC lifted its holdings in shares of M&T Bank by 25.2% during the 4th quarter. Baystate Wealth Management LLC now owns 1,043 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 210 shares during the period. Finally, Meitav Investment House Ltd. lifted its holdings in shares of M&T Bank by 6.7% during the 4th quarter. Meitav Investment House Ltd. now owns 2,409 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 152 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock valued at $5,114,624 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MTB shares. Wells Fargo & Company upped their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Barclays upped their price objective on shares of M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday. Evercore ISI upped their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Finally, UBS Group upped their price objective on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Trading Up 0.2 %

MTB opened at $139.30 on Friday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.23. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $139.76 and a 200-day moving average of $132.81. The stock has a market cap of $23.21 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.16 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company earned $4.09 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 13.95 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.73%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is presently 35.16%.

M&T Bank Company 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.