Vinva Investment Management Ltd Has $1.76 Million Holdings in M&T Bank Co. (NYSE:MTB)

Vinva Investment Management Ltd boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 80.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,021 shares of the financial services provider’s stock after buying an additional 4,483 shares during the quarter. Vinva Investment Management Ltd’s holdings in M&T Bank were worth $1,758,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Plato Investment Management Ltd increased its position in M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank during the third quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its position in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Oakworth Capital Inc. acquired a new position in shares of M&T Bank in the second quarter valued at approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTB. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and upped their target price for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Morgan Stanley upped their target price on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and upped their target price for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Bank of America upped their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $206.41.

Insider Activity

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 92,504 shares of company stock worth $18,394,012. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 0.4 %

NYSE MTB opened at $219.99 on Friday. The business has a fifty day moving average price of $196.45 and a two-hundred day moving average price of $171.86. 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 fifty-two week low of $125.61 and a fifty-two week high of $225.70. The stock has a market capitalization of $36.50 billion, a PE ratio of 16.28, a PEG ratio of 3.11 and a beta of 0.74.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Equities analysts expect that M&T Bank Co. will post 14.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid 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 is Monday, December 2nd. M&T Bank’s payout ratio is 39.97%.

About M&T Bank

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.