Barrow Hanley Mewhinney & Strauss LLC Trims Stock Position in M&T Bank Co. (NYSE:MTB)

Barrow Hanley Mewhinney & Strauss LLC trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,307,326 shares of the financial services provider’s stock after selling 19,385 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 0.79% of M&T Bank worth $245,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Sanctuary Advisors LLC lifted its holdings in M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares during the last quarter. Catalina Capital Group LLC grew its holdings in M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 56 shares during the period. Parallel Advisors LLC grew its position in M&T Bank by 1.7% in the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock worth $660,000 after buying an additional 60 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of M&T Bank by 1.2% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock worth $975,000 after purchasing an additional 63 shares during the period. Finally, Meridian Wealth Management LLC increased its position in shares of M&T Bank by 3.8% in the fourth quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

MTB stock opened at $175.21 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The firm has a market capitalization of $28.78 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The firm has a 50 day moving average of $189.44 and a 200-day moving average of $192.62.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $2.74 EPS. As a group, sell-side analysts predict that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.08%. M&T Bank’s payout ratio is 36.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI cut their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Citigroup lowered their price objective on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. DA Davidson boosted their price objective 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. Barclays raised their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $218.79.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.