Calamos Advisors LLC Cuts Stock Holdings in M&T Bank Co. (NYSE:MTB)

Calamos Advisors LLC lowered its position in M&T Bank Co. (NYSE:MTB) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,167 shares of the financial services provider’s stock after selling 694 shares during the period. Calamos Advisors LLC’s holdings in M&T Bank were worth $7,288,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Clear Street Markets LLC purchased a new stake in shares of M&T Bank during the 4th quarter worth $25,000. Quarry LP purchased a new position in shares of M&T Bank in the 1st quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new stake in shares of M&T Bank in the first quarter valued at about $27,000. Headinvest LLC purchased a new stake in M&T Bank during the third quarter worth about $29,000. Finally, BKM Wealth Management LLC acquired a new position in M&T Bank during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 2.9 %

Shares of M&T Bank stock opened at $143.38 on Friday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.23. The business’s fifty day moving average is $139.96 and its two-hundred day moving average is $133.05. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $23.89 billion, a PE ratio of 9.69, a P/E/G ratio of 1.16 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter last year, the company posted $4.09 earnings per share. Analysts anticipate that M&T Bank Co. will post 13.95 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued 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 3.63%. M&T Bank’s payout ratio is 35.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays lifted their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. UBS Group raised their price objective on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Jefferies Financial Group decreased their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Morgan Stanley upped their target price on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Bank of America lifted their price target on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One research 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. According to MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $158.48.

Insider Buying and Selling

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,119 shares of company stock valued at $5,341,012. Insiders own 0.82% of the company’s stock.

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.