SG Americas Securities LLC Trims Holdings in M&T Bank Co. (NYSE:MTB)

SG Americas Securities LLC lowered its holdings in M&T Bank Co. (NYSE:MTB) by 95.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,211 shares of the financial services provider’s stock after selling 96,138 shares during the quarter. SG Americas Securities LLC’s holdings in M&T Bank were worth $792,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in shares of M&T Bank by 13.9% during the 3rd 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 in the last quarter. State Street Corp grew its holdings in 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 valued at $1,562,725,000 after buying an additional 527,854 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in M&T Bank during the 3rd quarter valued at $44,422,000. Charles Schwab Investment Management Inc. lifted its stake in shares of M&T Bank by 3.9% during 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 period. Finally, The Manufacturers Life Insurance Company raised its position in shares of M&T Bank by 30.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 599,995 shares of the financial services provider’s stock worth $106,871,000 after buying an additional 141,337 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MTB. The Goldman Sachs Group raised their price objective 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. Wells Fargo & Company boosted their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Finally, DA Davidson upped their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $221.68.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the completion of the transaction, the director now directly owns 35,480 shares in the company, valued at approximately $7,715,126. The trade was a 36.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,487 shares of company stock valued at $8,182,809 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $200.51 on Thursday. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $33.27 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. The firm has a 50-day moving average price of $200.23 and a 200 day moving average price of $186.28.

M&T Bank (NYSE:MTB) last posted 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the business earned $2.74 earnings per share. Research analysts anticipate that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Company 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.