Catalina Capital Group LLC Has $531,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Catalina Capital Group LLC boosted its holdings in M&T Bank Co. (NYSE:MTB) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,824 shares of the financial services provider’s stock after acquiring an additional 56 shares during the quarter. Catalina Capital Group LLC’s holdings in M&T Bank were worth $531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MTB. FMR LLC boosted its stake in shares of M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after purchasing an additional 1,508,846 shares in the last quarter. State Street Corp boosted its position in M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of M&T Bank during the third quarter worth $44,422,000. Charles Schwab Investment Management Inc. increased its holdings in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after buying an additional 190,837 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of M&T Bank by 30.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 599,995 shares of the financial services provider’s stock valued at $106,871,000 after acquiring an additional 141,337 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $200.91 on Monday. The firm has a market capitalization of $33.33 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.41 and a beta of 0.79. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The company has a fifty day moving average of $199.28 and a 200-day moving average of $186.95. 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 (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the company earned $2.74 EPS. As a group, sell-side analysts anticipate that M&T Bank Co. will post 16.56 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.69%. M&T Bank’s payout ratio is currently 36.91%.

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

Analyst Upgrades and Downgrades

MTB has been the topic of a number of research reports. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and upped their target price for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Evercore ISI raised their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. DA Davidson raised their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average target price of $221.68.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 1,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total transaction of $334,249.80. Following the sale, the director now directly owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. The trade was a 43.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,987 shares of company stock valued at $6,713,709. Company insiders own 0.82% of the company’s stock.

M&T Bank Profile

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.