Toroso Investments LLC Decreases Holdings in M&T Bank Co. (NYSE:MTB)

Toroso Investments LLC trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 7.4% in the third quarter, Holdings Channel reports. The firm owned 5,918 shares of the financial services provider’s stock after selling 472 shares during the period. Toroso Investments LLC’s holdings in M&T Bank were worth $1,043,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MTB. SRS Capital Advisors Inc. boosted its position in M&T Bank by 712.5% during the 2nd quarter. SRS Capital Advisors Inc. now owns 195 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 171 shares during the period. Ronald Blue Trust Inc. lifted its holdings in M&T Bank by 148.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 219 shares of the financial services provider’s stock worth $35,000 after buying an additional 131 shares in the last quarter. Private Trust Co. NA acquired a new position in M&T Bank in the 2nd quarter worth $40,000. CI Investments Inc. lifted its holdings in M&T Bank by 887.5% in the 3rd quarter. CI Investments Inc. now owns 237 shares of the financial services provider’s stock worth $42,000 after buying an additional 213 shares in the last quarter. Finally, Riverview Trust Co lifted its holdings in M&T Bank by 219.3% in the 3rd quarter. Riverview Trust Co now owns 265 shares of the financial services provider’s stock worth $47,000 after buying an additional 182 shares in the last quarter. 84.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of M&T Bank from $175.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, December 8th. Wedbush raised shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Tuesday, January 3rd. Citigroup increased their price target on shares of M&T Bank from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. Keefe, Bruyette & Woods lowered M&T Bank from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $215.00 to $180.00 in a report on Tuesday, December 6th. Finally, Morgan Stanley reduced their target price on M&T Bank from $225.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $182.18.

M&T Bank Price Performance

Shares of NYSE MTB opened at $122.50 on Friday. M&T Bank Co. has a 1-year low of $120.40 and a 1-year high of $193.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.96. The business’s fifty day moving average price is $150.57 and its two-hundred day moving average price is $161.78. The firm has a market capitalization of $20.58 billion, a PE ratio of 10.63, a P/E/G ratio of 0.76 and a beta of 0.82.

M&T Bank (NYSE:MTB – Get Rating) last issued its earnings results on Thursday, January 19th. The financial services provider reported $4.57 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.10. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.37 billion. M&T Bank had a return on equity of 11.41% and a net margin of 23.15%. During the same period last year, the company earned $3.37 earnings per share. On average, research analysts expect that M&T Bank Co. will post 18.09 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Monday, March 6th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.24%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 45.14%.

M&T Bank Profile

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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.