Caisse DE Depot ET Placement DU Quebec lessened its stake in M&T Bank Co. (NYSE:MTB) by 17.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,387 shares of the financial services provider’s stock after selling 4,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in M&T Bank were worth $3,828,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Calton & Associates Inc. bought a new stake in shares of M&T Bank in the 4th quarter valued at about $178,000. NuWave Investment Management LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at about $197,000. Savant Capital LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at about $202,000. Shelton Capital Management bought a new stake in shares of M&T Bank during the 4th quarter valued at about $202,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of M&T Bank during the 4th quarter valued at about $204,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.
MTB has been the topic of several research analyst reports. Jefferies Group restated a “buy” rating and set a $201.00 target price on shares of M&T Bank in a research report on Monday, January 8th. Barclays upped their target price on M&T Bank from $175.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Wells Fargo & Co set a $180.00 target price on M&T Bank and gave the company a “hold” rating in a research report on Wednesday, December 20th. UBS Group upgraded M&T Bank from a “sell” rating to a “neutral” rating and upped their target price for the company from $150.00 to $173.00 in a research report on Tuesday, December 12th. Finally, Royal Bank of Canada restated a “buy” rating on shares of M&T Bank in a research report on Friday, January 19th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. M&T Bank has an average rating of “Hold” and a consensus target price of $176.41.
M&T Bank Co. (NYSE:MTB) opened at $194.91 on Tuesday. The stock has a market capitalization of $29,270.00, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.26 and a beta of 0.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.54. M&T Bank Co. has a fifty-two week low of $141.12 and a fifty-two week high of $197.37.
M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.26. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 earnings per share. equities analysts expect that M&T Bank Co. will post 12.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 5th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, March 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 32.33%.
M&T Bank announced that its Board of Directors has approved a stock repurchase program on Monday, February 5th that authorizes the company to repurchase $745.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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M&T Bank 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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