M&T Bank Corporation (MTB) Stake Lifted by Toronto Dominion Bank

Toronto Dominion Bank lifted its position in shares of M&T Bank Corporation (NYSE:MTB) by 9.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,543 shares of the financial services provider’s stock after acquiring an additional 4,958 shares during the quarter. Toronto Dominion Bank’s holdings in M&T Bank Corporation were worth $9,266,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MTB. Oregon Public Employees Retirement Fund increased its stake in shares of M&T Bank Corporation by 145.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 39,994 shares of the financial services provider’s stock worth $6,477,000 after acquiring an additional 23,700 shares during the period. Marathon Asset Management LLP increased its stake in shares of M&T Bank Corporation by 176.9% during the second quarter. Marathon Asset Management LLP now owns 98,812 shares of the financial services provider’s stock worth $16,002,000 after acquiring an additional 63,122 shares during the period. LS Investment Advisors LLC increased its stake in shares of M&T Bank Corporation by 11.3% during the second quarter. LS Investment Advisors LLC now owns 7,301 shares of the financial services provider’s stock worth $1,182,000 after acquiring an additional 739 shares during the period. Aperio Group LLC increased its stake in shares of M&T Bank Corporation by 19.6% during the second quarter. Aperio Group LLC now owns 66,985 shares of the financial services provider’s stock worth $10,848,000 after acquiring an additional 10,996 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of M&T Bank Corporation by 2.9% during the second quarter. Whittier Trust Co. now owns 56,374 shares of the financial services provider’s stock worth $9,130,000 after acquiring an additional 1,579 shares during the period. Institutional investors and hedge funds own 79.28% of the company’s stock.

In other M&T Bank Corporation news, insider Randolph Michael Kasum sold 800,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $0.08, for a total transaction of $64,000.00. Also, VP Michele D. Trolli sold 9,730 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the transaction, the vice president now directly owns 24,708 shares in the company, valued at approximately $4,148,226.12. The disclosure for this sale can be found here. In the last three months, insiders have purchased 1,038,000 shares of company stock worth $87,940 and have sold 1,690,680 shares worth $1,903,281. Corporate insiders own 3.18% of the company’s stock.

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MTB has been the topic of a number of recent analyst reports. Robert W. Baird reiterated a “sell” rating and set a $145.00 price target on shares of M&T Bank Corporation in a research note on Friday, October 20th. Keefe, Bruyette & Woods restated a “hold” rating and set a $167.00 target price on shares of M&T Bank Corporation in a research report on Friday, July 21st. Nomura upped their target price on shares of M&T Bank Corporation from $145.00 to $162.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Citigroup Inc. restated a “neutral” rating and set a $170.00 target price (up from $160.00) on shares of M&T Bank Corporation in a research report on Monday, October 9th. Finally, Macquarie lowered shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. M&T Bank Corporation presently has a consensus rating of “Hold” and an average target price of $161.89.

M&T Bank Corporation (NYSE:MTB) opened at $161.22 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $24,189.33, a P/E ratio of 18.30, a P/E/G ratio of 1.96 and a beta of 0.85. M&T Bank Corporation has a one year low of $136.11 and a one year high of $173.72.

M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.19). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. M&T Bank Corporation had a net margin of 23.97% and a return on equity of 9.52%. During the same period in the previous year, the company posted $2.10 EPS. research analysts forecast that M&T Bank Corporation will post 9.1 EPS for the current fiscal year.

M&T Bank Corporation Company Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

Institutional Ownership by Quarter for M&T Bank Corporation (NYSE:MTB)

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