Putnam Investments LLC decreased its position in M&T Bank Co. (NYSE:MTB) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,305 shares of the company’s stock after selling 8 shares during the period. Putnam Investments LLC’s holdings in M&T Bank Co. were worth $517,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new stake in M&T Bank Co. during the third quarter worth $75,610,000. State Street Corp raised its position in shares of M&T Bank Co. by 8.6% in the fourth quarter. State Street Corp now owns 8,198,689 shares of the company’s stock worth $1,282,529,000 after buying an additional 648,171 shares during the last quarter. Morgan Stanley raised its position in shares of M&T Bank Co. by 190.0% in the third quarter. Morgan Stanley now owns 278,498 shares of the company’s stock worth $32,334,000 after buying an additional 182,468 shares during the last quarter. Capital Research Global Investors bought a new position in shares of M&T Bank Co. during the third quarter worth approximately $11,635,000. Finally, Martingale Asset Management L P raised its position in shares of M&T Bank Co. by 167.0% in the fourth quarter. Martingale Asset Management L P now owns 149,341 shares of the company’s stock worth $23,363,000 after buying an additional 93,399 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of M&T Bank Co. (NYSE:MTB) opened at 154.97 on Friday. The stock has a market cap of $23.89 billion, a PE ratio of 19.92 and a beta of 0.77. The stock has a 50 day moving average of $164.98 and a 200-day moving average of $143.77. M&T Bank Co. has a 52 week low of $107.01 and a 52 week high of $173.72.
M&T Bank Co. (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 19th. The company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.04 by $0.06. M&T Bank Co. had a net margin of 22.98% and a return on equity of 8.98%. During the same quarter in the previous year, the company posted $1.65 EPS. Equities research analysts predict that M&T Bank Co. will post $8.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 6th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $3.00 annualized dividend and a yield of 1.94%. This is an increase from M&T Bank Co.’s previous quarterly dividend of $0.70. M&T Bank Co.’s payout ratio is currently 35.94%.
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A number of equities analysts have recently commented on MTB shares. Wedbush increased their price target on shares of M&T Bank Co. from $128.00 to $134.00 and gave the stock a “neutral” rating in a report on Wednesday, November 30th. Deutsche Bank AG increased their price target on shares of M&T Bank Co. from $124.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, November 30th. Bank of America Corp lowered shares of M&T Bank Co. from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $117.00 to $155.00 in a report on Thursday, December 15th. Royal Bank of Canada reissued a “buy” rating on shares of M&T Bank Co. in a report on Saturday, December 17th. Finally, Barclays PLC reissued an “overweight” rating and issued a $172.00 price target (up previously from $130.00) on shares of M&T Bank Co. in a report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $141.00.
In other M&T Bank Co. news, insider D Scott N. Warman sold 1,055 shares of M&T Bank Co. stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $162.32, for a total transaction of $171,247.60. Following the transaction, the insider now owns 13,169 shares of the company’s stock, valued at $2,137,592.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider D Scott N. Warman sold 1,000 shares of M&T Bank Co. stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $161.36, for a total transaction of $161,360.00. Following the transaction, the insider now directly owns 12,380 shares in the company, valued at approximately $1,997,636.80. The disclosure for this sale can be found here. Insiders have sold 8,034 shares of company stock worth $1,318,119 in the last ninety days. Insiders own 3.63% of the company’s stock.
M&T Bank Co. Company Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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