Commonwealth Retirement Investments LLC Sells 156 Shares of M&T Bank Co. (NYSE:MTB)

Commonwealth Retirement Investments LLC trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,549 shares of the financial services provider’s stock after selling 156 shares during the period. Commonwealth Retirement Investments LLC’s holdings in M&T Bank were worth $2,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of MTB. Hennion & Walsh Asset Management Inc. increased its holdings in M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after acquiring an additional 2,018 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of M&T Bank in the third quarter valued at approximately $44,000. Flagship Harbor Advisors LLC raised its position in shares of M&T Bank by 89.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,295 shares during the period. Summit Trail Advisors LLC bought a new position in M&T Bank in the 4th quarter worth approximately $290,000. Finally, Principal Financial Group Inc. grew its stake in M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after buying an additional 2,797 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Down 0.4 %

MTB opened at $192.82 on Tuesday. The business’s fifty day simple moving average is $194.95 and its 200 day simple moving average is $190.51. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The stock has a market cap of $31.69 billion, a PE ratio of 13.18, a P/E/G ratio of 1.38 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the company earned $2.74 EPS. As a group, research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

M&T Bank announced that its board has authorized a share buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in 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 typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on MTB shares. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods increased their target price on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Evercore ISI increased their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and increased their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $221.68.

Insider Activity

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.