Forsta AP Fonden Purchases 3,600 Shares of M&T Bank Co. (NYSE:MTB)

Forsta AP Fonden lifted its position in M&T Bank Co. (NYSE:MTB) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,400 shares of the financial services provider’s stock after acquiring an additional 3,600 shares during the quarter. Forsta AP Fonden’s holdings in M&T Bank were worth $6,305,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after acquiring an additional 81,004 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of M&T Bank by 3.0% in the 2nd 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 acquiring an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after acquiring an additional 43,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 2.4 %

NYSE MTB opened at $197.25 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.91 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. The company has a 50 day moving average price of $176.86 and a 200 day moving average price of $161.29. M&T Bank Co. has a 52 week low of $109.82 and a 52 week high of $200.94.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.74%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling

In related news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the completion of the transaction, the insider now owns 47,944 shares in the company, valued at $7,780,352.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the transaction, the insider now owns 47,944 shares in the company, valued at approximately $7,780,352.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael J. Todaro sold 4,791 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.57, for a total transaction of $778,872.87. Following the transaction, the executive vice president now owns 3,086 shares in the company, valued at $501,691.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,727 shares of company stock worth $7,437,558 in the last 90 days. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MTB shares. Wells Fargo & Company lifted their price objective on shares of M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a report on Friday, October 18th. DA Davidson lifted their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Barclays lifted their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted 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 report on Friday, July 19th. Finally, Morgan Stanley lifted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average price target of $197.47.

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.