Signaturefd LLC Has $106,000 Holdings in M&T Bank Co. (NYSE:MTB)

Signaturefd LLC lowered its stake in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 27.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 731 shares of the financial services provider’s stock after selling 273 shares during the period. Signaturefd LLC’s holdings in M&T Bank were worth $106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTB. Neuberger Berman Group LLC boosted its position in shares of M&T Bank by 2,516.6% during the third quarter. Neuberger Berman Group LLC now owns 793,087 shares of the financial services provider’s stock valued at $139,841,000 after buying an additional 762,777 shares during the last quarter. Royal Bank of Canada lifted its stake in M&T Bank by 140.8% during the 1st quarter. Royal Bank of Canada now owns 545,786 shares of the financial services provider’s stock valued at $92,511,000 after acquiring an additional 319,116 shares in the last quarter. Select Equity Group L.P. purchased a new position in M&T Bank during the 1st quarter worth $53,996,000. Vanguard Group Inc. grew its stake in shares of M&T Bank by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,607,431 shares of the financial services provider’s stock worth $2,475,959,000 after acquiring an additional 316,266 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of M&T Bank by 40.1% in the 3rd quarter. Alliancebernstein L.P. now owns 973,094 shares of the financial services provider’s stock worth $171,576,000 after acquiring an additional 278,450 shares in the last quarter. 84.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MTB shares. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, April 8th. UBS Group downgraded M&T Bank from a “buy” rating to a “neutral” rating in a research note on Monday, April 10th. Morgan Stanley decreased their price target on M&T Bank from $212.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, April 5th. DA Davidson cut their price objective on M&T Bank from $141.00 to $138.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on M&T Bank from $160.00 to $125.00 in a research note on Thursday, April 6th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.10.

M&T Bank Stock Performance

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NYSE:MTB opened at $125.73 on Wednesday. The business’s fifty day moving average is $135.52 and its 200 day moving average is $151.80. The firm has a market cap of $21.13 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 4.60 and a beta of 0.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank Co. has a 52-week low of $110.00 and a 52-week high of $193.42.

M&T Bank (NYSE:MTB – Get Rating) last announced its quarterly earnings results on Monday, April 17th. The financial services provider reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.03. M&T Bank had a return on equity of 11.41% and a net margin of 23.15%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the business posted $2.73 earnings per share. Research analysts predict that M&T Bank Co. will post 17 EPS for the current year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Monday, March 6th were paid a $1.30 dividend. The ex-dividend date was Friday, March 3rd. This is a boost from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 annualized dividend and a yield of 4.14%. M&T Bank’s dividend payout ratio is currently 45.14%.

About M&T Bank

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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.