Cantor Fitzgerald Investment Advisors L.P. Trims Position in M&T Bank Co. (NYSE:MTB)

Cantor Fitzgerald Investment Advisors L.P. lowered its position in M&T Bank Co. (NYSE:MTB) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,252 shares of the financial services provider’s stock after selling 70 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in M&T Bank were worth $3,432,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTB. Hedeker Wealth LLC grew its stake in shares of M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after buying an additional 55 shares during the period. Catalina Capital Group LLC grew its position in 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 worth $531,000 after acquiring an additional 56 shares during the period. Frank Rimerman Advisors LLC increased its stake in M&T Bank by 1.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 57 shares during the last quarter. Crestwood Advisors Group LLC raised its position in M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 57 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. Keefe, Bruyette & Woods raised their price objective on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Evercore ISI increased their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Bank of America lifted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Compass Point upped their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Barclays lifted their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Stock Performance

Shares of MTB opened at $200.59 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52-week low of $129.36 and a 52-week high of $225.70. The stock has a 50 day moving average price of $197.49 and a 200 day moving average price of $187.72. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the business posted $2.74 EPS. Research analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank declared that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,397 shares of company stock worth $6,379,459 in the last quarter. 0.82% of the stock is owned by insiders.

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.