Savant Capital LLC Has $3.16 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Savant Capital LLC reduced its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,076 shares of the financial services provider’s stock after selling 89 shares during the quarter. Savant Capital LLC’s holdings in M&T Bank were worth $3,163,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Burns J W & Co. Inc. NY raised its stake in shares of M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after buying an additional 80 shares during the last quarter. Robinson Value Management Ltd. lifted its stake in shares of M&T Bank by 0.3% in the 3rd quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock valued at $4,241,000 after purchasing an additional 85 shares during the period. Sunbelt Securities Inc. boosted its position in shares of M&T Bank by 41.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 100 shares during the last quarter. CI Investments Inc. grew its stake in shares of M&T Bank by 2.9% during the third quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 104 shares during the period. Finally, Steamboat Capital Partners LLC grew its stake in shares of M&T Bank by 1.9% during the third quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider’s stock worth $736,000 after purchasing an additional 109 shares during the period. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

MTB opened at $146.13 on Thursday. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 1.21 and a beta of 0.78. The business’s 50-day moving average price is $141.47 and its two-hundred day moving average price is $134.29. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $4.09 EPS. Equities analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.56%. M&T Bank’s payout ratio is currently 35.16%.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. Insiders sold 46,119 shares of company stock worth $6,679,812 in the last ninety days. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTB. DA Davidson restated a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Evercore ISI lifted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Bank of America boosted their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, UBS Group raised their price objective on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $158.48.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.