American Century Companies Inc. Has $12.78 Million Holdings in M&T Bank Co. (NYSE:MTB)

American Century Companies Inc. raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 67,987 shares of the financial services provider’s stock after purchasing an additional 610 shares during the period. American Century Companies Inc.’s holdings in M&T Bank were worth $12,782,000 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. Mizuho Securities USA LLC grew its holdings in M&T Bank by 45.2% during the fourth quarter. Mizuho Securities USA LLC now owns 15,726 shares of the financial services provider’s stock worth $2,957,000 after buying an additional 4,897 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of M&T Bank in the 4th quarter worth $630,000. Northwest & Ethical Investments L.P. grew its stake in shares of M&T Bank by 10.3% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 59,006 shares of the financial services provider’s stock worth $11,093,000 after acquiring an additional 5,533 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at about $2,363,000. Finally, Teacher Retirement System of Texas bought a new position in shares of M&T Bank during the fourth quarter valued at about $294,000. 84.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on MTB shares. Wells Fargo & Company decreased their price objective on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a research note on Friday, March 28th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Citigroup lowered their target price on 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. Finally, Morgan Stanley decreased their price objective on shares of M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus target price of $218.79.

M&T Bank Stock Down 1.4 %

MTB stock opened at $176.31 on Wednesday. The stock has a 50-day simple moving average of $188.64 and a two-hundred day simple moving average of $192.95. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The firm has a market capitalization of $28.97 billion, a PE ratio of 12.05, a PEG ratio of 1.38 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last posted 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 posted $2.74 EPS. On average, equities analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has initiated a share repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.06%. The ex-dividend date was Monday, March 3rd. M&T Bank’s dividend payout ratio is 36.91%.

M&T Bank Company 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.