M&T Bank Co. (NYSE:MTB) Shares Bought by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. lifted its holdings in M&T Bank Co. (NYSE:MTB) by 11.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,758 shares of the financial services provider’s stock after buying an additional 1,490 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in M&T Bank were worth $2,775,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. FMR LLC lifted its holdings in M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after acquiring an additional 1,508,846 shares during the last quarter. State Street Corp raised its position in shares of M&T Bank by 6.4% during the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after purchasing an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $897,216,000 after purchasing an additional 190,837 shares during the last quarter. Geode Capital Management LLC boosted its position in M&T Bank by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after purchasing an additional 66,337 shares during the period. Finally, Senvest Management LLC grew its stake in M&T Bank by 12.3% during the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock worth $157,252,000 after buying an additional 96,500 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.4 %

Shares of NYSE:MTB opened at $196.88 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $32.67 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The company has a 50 day moving average price of $202.41 and a 200 day moving average price of $183.95.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same quarter last year, the firm posted $2.74 earnings per share. On average, research analysts anticipate that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. M&T Bank’s dividend payout ratio is currently 39.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MTB shares. Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Keefe, Bruyette & Woods upped their target price on shares of 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. Bank of America raised their price target on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI boosted their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average target price of $221.68.

Insiders Place Their Bets

In other news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the sale, the chief executive officer now owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares in the company, valued at $1,095,678.54. This represents a 20.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,994 shares of company stock worth $13,331,878. Company insiders own 0.82% of the company’s stock.

M&T Bank Profile

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.