M&T Bank Co. (NYSE:MTB) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 0.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,819 shares of the financial services provider’s stock after acquiring an additional 52 shares during the period. Sanctuary Advisors LLC’s holdings in M&T Bank were worth $3,195,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp boosted its stake in shares of M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after acquiring an additional 527,854 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in M&T Bank during the 3rd quarter worth about $44,422,000. Charles Schwab Investment Management Inc. raised its stake in M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after purchasing an additional 190,837 shares during the last quarter. Finally, Sapient Capital LLC lifted its holdings in M&T Bank by 9,754.9% in the 4th quarter. Sapient Capital LLC now owns 184,287 shares of the financial services provider’s stock valued at $34,648,000 after purchasing an additional 182,417 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is owned by company insiders.

M&T Bank Price Performance

MTB opened at $193.48 on Friday. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a 50 day moving average of $195.09 and a two-hundred day moving average of $190.08. The company has a market cap of $31.80 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.38 and a beta of 0.79. 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 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the business posted $2.74 earnings per share. On average, analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $230.00 in a report on Monday, November 25th. The Goldman Sachs Group lifted their target price on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Company 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.