Dimensional Fund Advisors LP Lowers Equity Position in M&T Bank Co. (NYSE:MTB)

Financial Advisors


Dimensional Fund Advisors LP reduced its stake in M&T Bank (NYSE:MTB – Get Rating) by 26.4% in the fourth quarter, according to the company’s latest filing with the Securities and Exchange Commission. . This institutional investor owned 1,279,555 shares of the financial services provider after selling 458,253 shares during the period. Dimensional Fund Advisors LP owned approximately 0.74% of his M&T Bank worth $185,611,000 at the end of the most recent reporting period.

Several other hedge funds have also changed their stakes in businesses. SeaCrest Wealth Management LLC raised his M&T Bank position by 1.9% in the third quarter. SeaCrest Wealth Management LLC acquired an additional 62 shares last quarter and now owns 3,388 shares of the financial services provider worth $597,000. Buckingham Strategic Wealth LLC increased its stake in M&T Bank by 2.0% in the third quarter. Buckingham Strategic Wealth LLC purchased an additional 65 shares last quarter and now owns 3,237 shares in the financial services provider, valued at $571,000. Robinson Value Management Limited increased his position at M&T Bank by 0.5% in the fourth quarter. Robinson Value Management Limited purchased an additional 66 shares during the period and now owns 13,655 shares of the financial services provider worth $1.981 million. IFP Advisors Inc increased its stake in M&T Bank by 0.7% in the third quarter. IFP Advisors Inc purchased an additional 69 shares last quarter and now owns 9,492 shares of the financial services provider worth $1,672,000. Finally, EverSource Wealth Advisors LLC increased its position in M&T Bank stock by 13.5% during the third quarter. After acquiring an additional 86 shares during the period, EverSource Wealth Advisors LLC now owns 723 shares in the financial services provider, valued at $128,000. Institutional investors and hedge funds hold 84.10% of the shares.

Analyst Rating Change

Several equity analysts have recently turned their attention to MTB stocks. Wolf Research downgraded M&T Bank from ‘outperform’ to ‘peer perform’ in a research note on Thursday, March 23. Bank of America raised its price target on M&T Bank from $141.00 to $145.00 in a research note on Tuesday, April 18, and gave the stock a buy rating. Morgan Stanley lowered its price target on M&T Bank shares to $159.00 from $212.00 in a research note on Wednesday, April 5, setting the stock’s rating to Overweight. Barclays lowered its price target on M&T Bank shares to $153.00 from $194.00 in a research report on Wednesday 12 April. Finally, DA Davidson lowered his price target on M&T Bank shares to $138.00 from $141.00 in a research report on Tuesday, April 18th. One equity research analyst gave the stock a “sell” rating, eight gave a “hold” rating, and 10 assigned a “buy” rating to the stock. Based on MarketBeat.com data, the stock has an average rating of Hold and a consensus price target of $165.10.

M&T Bank’s stock performance

NYSE MTB opened Wednesday at $112.95. His 50-day moving average price for this company is $120.66 and his 200-day moving average price is $143.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt to equity ratio of 0.32. M&T Bank hit a 12-month low of $109.36 and a 12-month high of $193.42. The company has a market capitalization of $18.74 billion, a price/earnings multiple of 8.75 times, a price/earnings multiple of 0.62 times, and a beta of 0.78 times.

M&T Bank (NYSE:MTB – Get Rating) last released its quarterly earnings data on Monday, April 17. The financial services provider reported earnings per share of $4.01 for the quarter, beating consensus expectations of $3.98 by $0.03. M&T Bank’s net margin was 23.20% and return on equity was 11.97%. The business had sales of $2.91 billion in the quarter, compared with analyst expectations of $2.37 billion. The company’s EPS in the year-ago quarter was $2.73. On average, research analysts forecast M&T Bank’s earnings per share of 17.26 for the current year.

M&T Bank dividend announcement

The company also recently announced a quarterly dividend to be paid on Friday, June 30. Shareholders of record on Thursday, June 1 will be issued his $1.30 dividend per share. This equates to a dividend of $5.20 for him on an annualized basis and a dividend yield of 4.60% for him. M&T Bank’s dividend payout ratio is 40.28%.

M&T Bank Company Profile

(get rating)

M&T Bank Corp. operates as a bank holding company and is engaged in the provision of retail and commercial banking, fiduciary, wealth management and investment services. It operates through Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Home Loan Banking and Retail Banking divisions.

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