M&T Bank Co. (NYSE:MTB) Shares Acquired by Fmr LLC

Fmr LLC grew its stake in shares of M&T Bank Co. (NYSE:MTB) by 13.9% during the third quarter, Holdings Channel reports. The firm owned 12,349,398 shares of the financial services provider’s stock after purchasing an additional 1,508,846 shares during the period. Fmr LLC owned approximately 0.07% of M&T Bank worth $2,199,675,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of M&T Bank by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after acquiring an additional 190,837 shares during the period. Massachusetts Financial Services Co. MA increased its stake in M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after purchasing an additional 81,004 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after buying an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of M&T Bank by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after buying an additional 44,442 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of M&T Bank by 3.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after buying an additional 43,795 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,383 shares of company stock valued at $17,925,801. Company insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 0.5 %

Shares of MTB opened at $220.77 on Wednesday. The firm has a 50 day simple moving average of $193.89 and a 200-day simple moving average of $170.70. The stock has a market cap of $36.63 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 3.13 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank Co. has a 1-year low of $123.46 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. Equities analysts forecast that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio is presently 39.97%.

Analyst Ratings Changes

A number of analysts have weighed in on MTB shares. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Royal Bank of Canada increased their price target on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Evercore ISI boosted their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their target price on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $203.29.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.