Old Port Advisors Sells 1,803 Shares of M&T Bank Co. (NYSE:MTB)

Old Port Advisors reduced its stake in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,067 shares of the financial services provider’s stock after selling 1,803 shares during the period. Old Port Advisors’ holdings in M&T Bank were worth $2,621,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. First Hawaiian Bank raised its position in M&T Bank by 1.1% during the 3rd quarter. First Hawaiian Bank now owns 8,193 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 91 shares during the last quarter. Ossiam raised its position in shares of M&T Bank by 12.1% in the 2nd quarter. Ossiam now owns 4,430 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 477 shares in the last quarter. Prudential PLC raised its position in shares of M&T Bank by 12.8% in the 3rd quarter. Prudential PLC now owns 5,192 shares of the financial services provider’s stock worth $915,000 after acquiring an additional 590 shares in the last quarter. Raymond James & Associates raised its position in shares of M&T Bank by 3.9% in the 3rd quarter. Raymond James & Associates now owns 245,119 shares of the financial services provider’s stock worth $43,221,000 after acquiring an additional 9,266 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of M&T Bank by 11.1% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 6,876 shares of the financial services provider’s stock worth $1,096,000 after acquiring an additional 688 shares in the last quarter. 84.10% of the stock is owned by institutional investors.

M&T Bank Stock Down 4.0 %

Shares of NYSE:MTB opened at $122.50 on Friday. M&T Bank Co. has a 52-week low of $120.40 and a 52-week high of $193.42. The firm has a fifty day moving average of $150.57 and a 200 day moving average of $161.78. The firm has a market capitalization of $20.58 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96.

M&T Bank (NYSE:MTB – Get Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $4.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.10. M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the business earned $3.37 earnings per share. As a group, research analysts anticipate that M&T Bank Co. will post 18.09 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 6th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.24%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 3rd. M&T Bank’s dividend payout ratio is presently 45.14%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on M&T Bank in a research report on Thursday. They issued a “hold” rating for the company. JPMorgan Chase & Co. lifted their price objective on M&T Bank from $153.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Wedbush raised M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a research report on Tuesday, January 3rd. Wells Fargo & Company reduced their target price on M&T Bank from $175.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, December 8th. Finally, Morgan Stanley reduced their target price on M&T Bank from $225.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, January 23rd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $182.18.

About M&T Bank

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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.