Amundi Purchases 244,709 Shares of M&T Bank Co. (NYSE:MTB)

Amundi boosted its position in M&T Bank Co. (NYSE:MTB) by 43.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 807,339 shares of the financial services provider’s stock after purchasing an additional 244,709 shares during the quarter. Amundi’s holdings in M&T Bank were worth $154,315,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MTB. Plato Investment Management Ltd raised its holdings in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in M&T Bank in the third quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in M&T Bank in the third quarter worth $44,000. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

MTB has been the subject of several analyst reports. Wells Fargo & Company raised their price target on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Compass Point raised their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and raised their price target for the company from $220.00 to $230.00 in a report on Monday, November 25th. Barclays raised their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average target price of $221.68.

M&T Bank Stock Down 2.8 %

NYSE MTB opened at $173.68 on Tuesday. The stock’s 50 day moving average is $193.77 and its 200 day moving average is $192.04. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The stock has a market cap of $28.53 billion, a PE ratio of 11.87, a P/E/G ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the business posted $2.74 EPS. Research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.11%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

M&T Bank announced that its Board of Directors has initiated a stock buyback 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 purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

M&T Bank 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.