LGT Capital Partners LTD. Boosts Stake in M&T Bank Co. (MTB)
LGT Capital Partners LTD. increased its stake in M&T Bank Co. (NYSE:MTB) by 16.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,630 shares of the bank’s stock after buying an additional 11,570 shares during the period. LGT Capital Partners LTD. owned about 0.05% of M&T Bank Co. worth $12,631,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. WFG Advisors LP raised its stake in M&T Bank Co. by 39,277.8% in the fourth quarter. WFG Advisors LP now owns 3,544 shares of the bank’s stock valued at $107,000 after buying an additional 3,535 shares during the period. TLP Group LLC acquired a new stake in M&T Bank Co. during the third quarter valued at about $127,000. Mosaic Family Wealth LLC raised its stake in M&T Bank Co. by 12.5% in the third quarter. Mosaic Family Wealth LLC now owns 1,130 shares of the bank’s stock valued at $131,000 after buying an additional 126 shares during the period. Virtus Investment Advisers Inc. acquired a new stake in M&T Bank Co. during the third quarter valued at about $150,000. Finally, SRB Corp raised its stake in M&T Bank Co. by 8.9% in the third quarter. SRB Corp now owns 1,334 shares of the bank’s stock valued at $155,000 after buying an additional 109 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.
M&T Bank Co. (NYSE:MTB) traded up 1.85% during trading on Thursday, reaching $154.28. 613,370 shares of the company’s stock were exchanged. The company has a market cap of $23.79 billion, a P/E ratio of 19.84 and a beta of 0.77. The stock’s 50-day moving average is $158.40 and its 200-day moving average is $148.79. M&T Bank Co. has a 12-month low of $108.04 and a 12-month high of $173.72.
M&T Bank Co. (NYSE:MTB) last posted its earnings results on Monday, April 17th. The bank reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.18. M&T Bank Co. had a net margin of 22.98% and a return on equity of 8.98%. The firm earned $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted $1.87 earnings per share. Analysts predict that M&T Bank Co. will post $8.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 6th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This is a positive change from M&T Bank Co.’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.94%. M&T Bank Co.’s dividend payout ratio (DPR) is 35.94%.
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MTB has been the topic of several research reports. Barclays PLC reissued an “overweight” rating and issued a $172.00 price target (up previously from $130.00) on shares of M&T Bank Co. in a research report on Tuesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and issued a $168.00 price target on shares of M&T Bank Co. in a research report on Wednesday, January 4th. FBR & Co boosted their price target on shares of M&T Bank Co. from $160.00 to $165.00 and gave the company a “market perform” rating in a research report on Friday, January 20th. Zacks Investment Research raised shares of M&T Bank Co. from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a research report on Tuesday, January 24th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $152.00 price target on shares of M&T Bank Co. in a research report on Thursday, March 23rd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. M&T Bank Co. has a consensus rating of “Hold” and an average target price of $146.93.
In related news, insider Gino A. Martocci sold 3,079 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $164.98, for a total value of $507,973.42. Following the completion of the transaction, the insider now directly owns 12,747 shares of the company’s stock, valued at $2,103,000.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John L. Dangelo sold 1,000 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $168.56, for a total transaction of $168,560.00. Following the completion of the transaction, the vice president now directly owns 1,829 shares of the company’s stock, valued at $308,296.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,034 shares of company stock valued at $1,318,119. 3.63% of the stock is currently owned by insiders.
M&T Bank Co. Company Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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