Amalgamated Bank Sells 956 Shares of M&T Bank Co. (NYSE:MTB)

Amalgamated Bank lessened its stake in shares of M&T Bank Co. (NYSE:MTB) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,815 shares of the financial services provider’s stock after selling 956 shares during the quarter. Amalgamated Bank’s holdings in M&T Bank were worth $5,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTB. Plato Investment Management Ltd raised its stake in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of M&T Bank during the third quarter worth approximately $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd grew its position in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 114 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in M&T Bank during the 3rd quarter valued at $44,000. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MTB. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods raised their price target on shares of 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. Barclays lifted their price target 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. Compass Point increased their price objective 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, The Goldman Sachs Group lifted their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $221.68.

M&T Bank Trading Down 0.6 %

Shares of M&T Bank stock opened at $189.54 on Thursday. The stock has a fifty day moving average price of $194.90 and a 200-day moving average price of $190.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm 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 Co. has a 1 year low of $133.03 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate 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 last year, the business earned $2.74 EPS. Equities research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

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

M&T Bank announced that its board has initiated 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 buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by corporate insiders.

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.