Brandywine Global Investment Management LLC Has $13.40 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Brandywine Global Investment Management LLC lessened its stake in shares of M&T Bank Co. (NYSE:MTB) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,260 shares of the financial services provider’s stock after selling 5,768 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in M&T Bank were worth $13,398,000 at the end of the most recent reporting period.

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

M&T Bank Stock Down 2.5 %

Shares of NYSE MTB opened at $175.21 on Monday. The business’s fifty day moving average price is $189.44 and its 200-day moving average price is $192.80. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70. The stock has a market capitalization of $28.78 billion, a PE ratio of 11.98, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping 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 last year, the firm earned $2.74 earnings per share. On average, equities research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

M&T Bank Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MTB shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Wells Fargo & Company decreased their price objective on M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a report on Friday. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI lowered their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $218.79.

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