Janus Henderson Group PLC Purchases 6,936 Shares of M&T Bank Co. (NYSE:MTB)

Janus Henderson Group PLC lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 32.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,223 shares of the financial services provider’s stock after buying an additional 6,936 shares during the quarter. Janus Henderson Group PLC’s holdings in M&T Bank were worth $5,308,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MTB. FMR LLC grew its holdings in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider’s stock worth $2,652,899,000 after acquiring an additional 1,761,014 shares in the last quarter. Norges Bank purchased a new stake in shares of M&T Bank in the 4th quarter worth approximately $317,690,000. D. E. Shaw & Co. Inc. bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $48,939,000. Charles Schwab Investment Management Inc. boosted its stake in shares of M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock valued at $994,522,000 after purchasing an additional 252,583 shares in the last quarter. Finally, Amundi raised its stake in M&T Bank by 43.5% in the fourth quarter. Amundi now owns 807,339 shares of the financial services provider’s stock worth $154,315,000 after buying an additional 244,709 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.4%

NYSE:MTB opened at $187.78 on Monday. The company has a market capitalization of $30.14 billion, a P/E ratio of 12.83, a PEG ratio of 1.38 and a beta of 0.58. 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 $139.78 and a 12 month high of $225.70. The firm has a fifty day simple moving average of $171.22 and a 200-day simple moving average of $189.23.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $3.09 EPS. On average, equities research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its board has authorized a share buyback program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.17%.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of analyst reports. Citigroup lowered their target price on M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a report on Monday, March 24th. TD Cowen assumed coverage on M&T Bank in a research note on Thursday. They set a “buy” rating and a $230.00 price objective for the company. Royal Bank of Canada cut their target price on M&T Bank from $208.00 to $200.00 and set an “outperform” rating on the stock 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 target for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price target on shares of M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $209.33.

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.