Cresset Asset Management LLC Has $4.93 Million Position in M&T Bank Co. (NYSE:MTB)

Cresset Asset Management LLC trimmed its position in M&T Bank Co. (NYSE:MTB) by 26.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,246 shares of the financial services provider’s stock after selling 9,605 shares during the period. Cresset Asset Management LLC’s holdings in M&T Bank were worth $4,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in shares of M&T Bank during the fourth quarter worth about $38,000. Y.D. More Investments Ltd lifted its stake 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 valued at $39,000 after buying an additional 114 shares in the last quarter. Human Investing LLC acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Sierra Ocean LLC bought a new stake in shares of M&T Bank during the fourth quarter worth $44,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank during the fourth quarter worth $52,000. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now 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 this hyperlink. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MTB shares. Wells Fargo & Company lowered their target price on M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Robert W. Baird decreased 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. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Thursday, April 24th. Finally, Barclays decreased their target price on shares of 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $208.24.

M&T Bank Trading Up 2.2 %

MTB stock opened at $177.56 on Friday. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70. The stock has a market cap of $29.17 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a fifty day moving average price of $170.25 and a two-hundred day moving average price of $189.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the previous year, the firm posted $3.09 EPS. Equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its board has initiated a share buyback plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.