M&T Bank Co. (NYSE:MTB) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 117.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,007 shares of the financial services provider’s stock after buying an additional 39,917 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in M&T Bank were worth $13,914,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MTB. Y.D. More Investments Ltd grew its holdings in M&T Bank by 122.6% during the 4th 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 during the last quarter. Human Investing LLC acquired a new stake in M&T Bank during the 4th quarter valued at $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank during the 4th quarter valued at $44,000. Loomis Sayles & Co. L P acquired a new stake in M&T Bank during the 4th quarter valued at $52,000. Finally, Principal Securities Inc. boosted its holdings in shares of M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

MTB has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a report on Tuesday, April 15th. Evercore ISI decreased their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada decreased their price objective on M&T Bank from $208.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Barclays decreased their price objective on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price objective on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $208.24.

M&T Bank Stock Down 1.0 %

NYSE MTB opened at $167.44 on Monday. The stock has a market cap of $27.51 billion, a PE ratio of 11.44, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The business has a 50 day moving average price of $173.82 and a two-hundred day moving average price of $190.86. 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 released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $3.09 EPS. As a group, sell-side analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio is presently 36.17%.

M&T Bank declared that its board has approved a stock buyback plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

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.