DNB Asset Management AS Boosts Holdings in M&T Bank Co. (NYSE:MTB)

DNB Asset Management AS raised its holdings in M&T Bank Co. (NYSE:MTB) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,676 shares of the financial services provider’s stock after purchasing an additional 731 shares during the quarter. DNB Asset Management AS’s holdings in M&T Bank were worth $2,160,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. North Star Investment Management Corp. purchased a new stake in M&T Bank in the third quarter valued at $32,000. Webster Bank N. A. purchased a new stake in shares of M&T Bank during the 2nd quarter worth about $43,000. HM Payson & Co. purchased a new stake in shares of M&T Bank during the 2nd quarter worth about $51,000. CSat Investment Advisory L.P. boosted its stake in shares of M&T Bank by 305.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 304 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 229 shares in the last quarter. Finally, CX Institutional boosted its stake in shares of M&T Bank by 24.8% during the 2nd quarter. CX Institutional now owns 372 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 74 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on MTB. Morgan Stanley lowered their target price on shares of M&T Bank from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Jefferies Financial Group lowered shares of M&T Bank from a “buy” rating to a “hold” rating and lowered their target price for the stock from $185.00 to $167.00 in a research note on Tuesday, October 8th. Odeon Capital Group began coverage on shares of M&T Bank in a research note on Friday, September 27th. They set a “hold” rating on the stock. Macquarie set a $158.00 target price on shares of M&T Bank and gave the stock a “sell” rating in a research note on Friday, July 19th. Finally, Piper Jaffray Companies lowered shares of M&T Bank from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $196.00 to $168.00 in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $168.75.

In related news, insider Michael J. Todaro purchased 186 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $144.84 per share, with a total value of $26,940.24. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William J. Farrell II sold 3,070 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $163.82, for a total transaction of $502,927.40. Following the completion of the transaction, the executive vice president now directly owns 10,774 shares in the company, valued at $1,764,996.68. The disclosure for this sale can be found here. Insiders sold a total of 4,828 shares of company stock worth $770,668 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Shares of M&T Bank stock opened at $152.23 on Friday. The firm has a market capitalization of $20.33 billion, a PE ratio of 11.84, a P/E/G ratio of 1.22 and a beta of 1.10. M&T Bank Co. has a twelve month low of $133.78 and a twelve month high of $176.11. The firm’s 50-day moving average price is $153.66 and its 200 day moving average price is $160.99. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.59 by ($0.12). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. M&T Bank had a net margin of 28.58% and a return on equity of 13.82%. During the same period in the prior year, the business posted $3.53 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 13.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Friday, August 30th. M&T Bank’s dividend payout ratio is presently 31.10%.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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