M&T Bank Co. (NYSE:MTB) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lowered its holdings in M&T Bank Co. (NYSE:MTB) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,798 shares of the financial services provider’s stock after selling 136 shares during the period. Sigma Planning Corp’s holdings in M&T Bank were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MTB. Sanctuary Advisors LLC increased its holdings in M&T Bank by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,195,000 after purchasing an additional 52 shares in the last quarter. Catalina Capital Group LLC grew its stake in shares of M&T Bank by 2.0% in the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after buying an additional 56 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after buying an additional 57 shares during the period. Sheaff Brock Investment Advisors LLC lifted its position in M&T Bank by 1.2% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 63 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its holdings in M&T Bank by 3.1% in 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 during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $189.54 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a 50-day simple moving average of $194.90 and a 200 day simple moving average of $190.70. 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 market cap of $31.15 billion, a PE ratio of 12.96, a P/E/G ratio of 1.38 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business posted $2.74 EPS. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, March 3rd. M&T Bank’s payout ratio is 36.91%.

M&T Bank announced that its board has approved a stock repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MTB. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays lifted their price target on shares of 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. Compass Point upped their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods increased their price target 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. One equities 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 company. According to MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $221.68.

Insider Activity

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.