Clearbridge Investments LLC Buys 2,529 Shares of M&T Bank Co. (NYSE:MTB)

Clearbridge Investments LLC lifted its stake in M&T Bank Co. (NYSE:MTB) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,993 shares of the financial services provider’s stock after purchasing an additional 2,529 shares during the quarter. Clearbridge Investments LLC owned about 0.21% of M&T Bank worth $47,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of M&T Bank in the 3rd quarter worth approximately $833,000. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of M&T Bank by 8.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 305 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of M&T Bank in the 3rd quarter worth approximately $299,000. Stevens Capital Management LP purchased a new position in M&T Bank in the 4th quarter worth approximately $320,000. Finally, Metis Global Partners LLC raised its holdings in M&T Bank by 15.2% in the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after acquiring an additional 931 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Down 0.2 %

Shares of NYSE MTB opened at $153.03 on Thursday. The firm’s 50-day moving average price is $144.90 and its 200-day moving average price is $138.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $25.53 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 3.00 and a beta of 0.78. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $156.65.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the company posted $4.09 earnings per share. On average, equities research analysts anticipate that M&T Bank Co. will post 14.02 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a $1.35 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, June 3rd. M&T Bank’s dividend payout ratio is 35.16%.

Insider Buying and Selling

In other news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the transaction, the executive vice president now directly owns 5,000 shares in the company, valued at $718,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John P. Barnes sold 43,426 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the transaction, the director now owns 35,480 shares in the company, valued at $5,481,660. The disclosure for this sale can be found here. Insiders have sold 132,034 shares of company stock valued at $19,706,471 in the last ninety days. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MTB shares. DA Davidson restated a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Evercore ISI boosted their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average target price of $158.48.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.