Mutual of America Capital Management LLC Raises Stock Holdings in M&T Bank Co. (NYSE:MTB)

Mutual of America Capital Management LLC boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,303 shares of the financial services provider’s stock after purchasing an additional 551 shares during the quarter. Mutual of America Capital Management LLC’s holdings in M&T Bank were worth $5,798,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MTB. General Partner Inc. bought a new stake in shares of M&T Bank in the first quarter worth $27,000. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank in the 1st quarter worth about $30,000. Principal Securities Inc. acquired a new stake in shares of M&T Bank in the 4th quarter valued at about $34,000. Oakworth Capital Inc. bought a new position in shares of M&T Bank during the second quarter worth about $35,000. Finally, Versant Capital Management Inc grew its stake in M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 201 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $179.56 on Friday. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $180.25. The company has a market cap of $29.96 billion, a PE ratio of 12.14, a P/E/G ratio of 3.32 and a beta of 0.76. The stock has a 50 day simple moving average of $167.47 and a 200-day simple moving average of $153.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the prior year, the business posted $5.12 earnings per share. On average, equities research analysts forecast that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 3.01%. M&T Bank’s payout ratio is 36.51%.

Analyst Ratings Changes

Several brokerages have issued reports on MTB. DA Davidson upped their price objective on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Bank of America raised their price objective on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their target price on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $175.85.

Insiders Place Their Bets

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is owned by corporate insiders.

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.