Stone House Investment Management LLC Has $36,000 Holdings in M&T Bank Co. (NYSE:MTB)

Stone House Investment Management LLC cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 30.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 263 shares of the financial services provider’s stock after selling 114 shares during the period. Stone House Investment Management LLC’s holdings in M&T Bank were worth $36,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Virtu Financial LLC increased its holdings in M&T Bank by 17,405.3% in the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after purchasing an additional 5,243,349 shares during the period. Spring Creek Capital LLC increased its holdings in M&T Bank by 217.0% in the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock valued at $66,759,000 after purchasing an additional 2,286,251 shares during the period. Norges Bank bought a new stake in M&T Bank during the fourth quarter valued at $231,022,000. Goldman Sachs Group Inc. boosted its position in M&T Bank by 76.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after acquiring an additional 1,538,436 shares during the last quarter. Finally, Morgan Stanley boosted its position in M&T Bank by 71.6% during the fourth quarter. Morgan Stanley now owns 2,986,977 shares of the financial services provider’s stock valued at $433,291,000 after acquiring an additional 1,246,265 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Up 1.2 %

NYSE:MTB traded up $1.71 on Wednesday, hitting $139.10. The stock had a trading volume of 761,630 shares, compared to its average volume of 1,209,949. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The stock has a market cap of $23.18 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.30 and a beta of 0.80. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.23. The firm’s fifty day simple moving average is $139.44 and its two-hundred day simple moving average is $132.72.

M&T Bank (NYSE:MTB) last issued its quarterly 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 return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the business earned $4.09 EPS. Analysts predict that M&T Bank Co. will post 13.89 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.74%. M&T Bank’s dividend payout ratio is 35.16%.

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at approximately $1,235,811.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at $718,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,481 shares of company stock worth $5,114,624. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MTB. UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Wedbush reaffirmed an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday. Bank of America increased their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, DA Davidson reissued a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, M&T Bank presently has an average rating of “Hold” and an average target price of $157.98.

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.