MGO One Seven LLC Sells 1,142 Shares of M&T Bank Co. (NYSE:MTB)

MGO One Seven LLC reduced its stake in shares of M&T Bank Co. (NYSE:MTB) by 47.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,264 shares of the financial services provider’s stock after selling 1,142 shares during the quarter. MGO One Seven LLC’s holdings in M&T Bank were worth $238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Y.D. More Investments Ltd increased its stake in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares during the period. Human Investing LLC acquired a new stake in M&T Bank in the fourth quarter worth about $44,000. Sierra Ocean LLC bought a new stake in M&T Bank during the 4th quarter worth about $44,000. Loomis Sayles & Co. L P acquired a new position in M&T Bank during the 4th quarter valued at about $52,000. Finally, Principal Securities Inc. boosted its stake in shares of M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MTB shares. Robert W. Baird dropped their price target on shares of M&T Bank from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley reduced their price target on M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Evercore ISI dropped their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Barclays decreased their target price on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 15th. Finally, DA Davidson cut their price target on shares of M&T Bank from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $208.24.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by company insiders.

M&T Bank Stock Up 0.7 %

NYSE:MTB opened at $169.87 on Wednesday. The company has a market cap of $27.91 billion, a PE ratio of 11.61, a PEG ratio of 1.38 and a beta of 0.58. The stock has a 50-day simple moving average of $172.65 and a 200 day simple moving average of $190.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 52-week low of $139.78 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business earned $3.09 earnings per share. On average, sell-side analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s payout ratio is 36.17%.

M&T Bank declared that its board has authorized a stock 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 purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.