Keybank National Association OH Boosts Holdings in M&T Bank Co. (NYSE:MTB)

Keybank National Association OH boosted its position in M&T Bank Co. (NYSE:MTB) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,665 shares of the financial services provider’s stock after buying an additional 78 shares during the period. Keybank National Association OH’s holdings in M&T Bank were worth $313,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. boosted its position in shares of M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after buying an additional 2,018 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank in the 3rd quarter worth about $44,000. Flagship Harbor Advisors LLC raised its stake in M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,295 shares during the last quarter. Summit Trail Advisors LLC acquired a new position in M&T Bank in the 4th quarter valued at about $290,000. Finally, Principal Financial Group Inc. raised its stake in M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after purchasing an additional 2,797 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MTB. DA Davidson boosted their target price on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped 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. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods upped their price objective on shares of 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. Finally, Wells Fargo & Company upped their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $221.68.

M&T Bank Stock Down 2.8 %

NYSE MTB opened at $173.68 on Tuesday. The stock has a market cap of $28.53 billion, a PE ratio of 11.87, a P/E/G ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The business has a 50 day moving average price of $193.77 and a two-hundred day moving average price of $192.04. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released 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 period in the previous year, the firm posted $2.74 earnings per share. As a group, sell-side analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

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 paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

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

M&T Bank Profile

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.