Machina Capital S.A.S. Purchases Shares of 2,896 M&T Bank Co. (NYSE:MTB)

Machina Capital S.A.S. purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) during the fourth quarter, Holdings Channel.com reports. The firm purchased 2,896 shares of the financial services provider’s stock, valued at approximately $397,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in MTB. Commonwealth Equity Services LLC grew its holdings in shares of M&T Bank by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 85,000 shares of the financial services provider’s stock worth $10,748,000 after purchasing an additional 1,583 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of M&T Bank by 7.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 37,521 shares of the financial services provider’s stock worth $4,744,000 after purchasing an additional 2,726 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of M&T Bank by 20.2% in the third quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider’s stock worth $204,047,000 after purchasing an additional 270,819 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of M&T Bank by 5.9% in the third quarter. Brown Advisory Inc. now owns 36,735 shares of the financial services provider’s stock worth $4,645,000 after purchasing an additional 2,059 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of M&T Bank by 4.7% in the third quarter. Forsta AP Fonden now owns 29,200 shares of the financial services provider’s stock worth $3,692,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MTB. JPMorgan Chase & Co. lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Wells Fargo & Company lifted their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Jefferies Financial Group cut their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Finally, UBS Group lifted their price target on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and a consensus price target of $158.48.

M&T Bank Stock Performance

NYSE:MTB traded up $2.66 during mid-day trading on Monday, reaching $149.24. The company’s stock had a trading volume of 876,230 shares, compared to its average volume of 1,154,345. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $149.29. The firm’s fifty day moving average price is $142.08 and its two-hundred day moving average price is $134.91. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $24.87 billion, a P/E ratio of 10.09, a PEG ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm posted $4.09 EPS. On average, equities analysts forecast that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.48%. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John P. Barnes sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the sale, the director now owns 34,545 shares of the company’s stock, valued at $5,081,914.95. The disclosure for this sale can be found here. Insiders sold a total of 46,119 shares of company stock worth $6,679,812 in the last three months. 0.82% of the stock is currently owned by company insiders.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.