Blue Trust Inc. Sells 888 Shares of M&T Bank Co. (NYSE:MTB)

Blue Trust Inc. lessened its stake in M&T Bank Co. (NYSE:MTB) by 35.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,603 shares of the financial services provider’s stock after selling 888 shares during the period. Blue Trust Inc.’s holdings in M&T Bank were worth $301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd lifted its stake in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in M&T Bank during the 3rd quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. raised its position in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Y.D. More Investments Ltd raised its position 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 purchasing an additional 114 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in M&T Bank during the 3rd quarter valued at approximately $44,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of recent analyst reports. DA Davidson upped their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Compass Point upped their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods increased their target price on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI increased their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Performance

M&T Bank stock opened at $200.51 on Wednesday. The stock’s 50 day moving average is $195.43 and its 200 day moving average is $189.25. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The company has a market capitalization of $33.27 billion, a P/E ratio of 13.71, a PEG ratio of 1.42 and a beta of 0.79.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate of $3.70 by $0.22. 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 business posted $2.74 EPS. On average, equities research analysts predict that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank declared that its board has authorized a stock repurchase plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total value of $4,349,000.00. Following the transaction, the director now directly owns 35,480 shares in the company, valued at $7,715,126. The trade was a 36.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,611 shares of company stock worth $5,354,777. Insiders own 0.82% of the company’s stock.

About M&T Bank

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.