Catalyst Funds Management Pty Ltd Acquires Shares of 1,100 M&T Bank Co. (NYSE:MTB)

Catalyst Funds Management Pty Ltd acquired a new stake in shares of M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,100 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other institutional investors have also bought and sold shares of MTB. Picton Mahoney Asset Management raised its stake in shares of M&T Bank by 156.4% in the fourth quarter. Picton Mahoney Asset Management now owns 64,528 shares of the financial services provider’s stock valued at $12,132,000 after acquiring an additional 39,359 shares during the period. Wellington Shields & Co. LLC raised its stake in shares of M&T Bank by 5.2% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,966 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 98 shares during the period. PGGM Investments purchased a new stake in shares of M&T Bank in the fourth quarter valued at $1,313,000. Essential Planning LLC. purchased a new stake in shares of M&T Bank in the fourth quarter valued at $9,459,000. Finally, HighTower Advisors LLC raised its stake in shares of M&T Bank by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 53,479 shares of the financial services provider’s stock valued at $10,055,000 after acquiring an additional 972 shares during the period. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MTB shares. Keefe, Bruyette & Woods increased their target price on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Morgan Stanley reduced their target price on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating on the stock in a research note on Thursday. Compass Point increased their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Citigroup downgraded shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their price target for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Finally, StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $222.03.

M&T Bank Stock Up 3.1 %

NYSE:MTB opened at $175.69 on Monday. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The stock has a market capitalization of $28.86 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company’s 50-day simple moving average is $192.44 and its 200-day simple moving average is $192.15.

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

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

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

Insider Activity

In related 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 value 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 $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company’s stock.

About M&T Bank

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.