QRG Capital Management Inc. Raises Position in M&T Bank Co. (NYSE:MTB)

QRG Capital Management Inc. lifted its holdings in M&T Bank Co. (NYSE:MTB) by 12.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,973 shares of the financial services provider’s stock after buying an additional 223 shares during the period. QRG Capital Management Inc.’s holdings in M&T Bank were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in M&T Bank by 232.1% during the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after buying an additional 472,997 shares during the period. Los Angeles Capital Management LLC boosted its holdings in M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after acquiring an additional 319,051 shares during the period. Canoe Financial LP grew its position in M&T Bank by 29.4% in the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after acquiring an additional 133,748 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of M&T Bank by 17,784.1% during the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after acquiring an additional 109,550 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of MTB stock opened at $214.64 on Tuesday. The firm has a market cap of $35.61 billion, a P/E ratio of 15.50, a P/E/G ratio of 2.97 and a beta of 0.74. The firm has a fifty day moving average of $182.71 and a two-hundred day moving average of $164.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 1.00. M&T Bank Co. has a 1-year low of $116.07 and a 1-year high of $216.84.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, research analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 39.97%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Barclays increased their price target on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Royal Bank of Canada raised their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. DA Davidson increased their price objective on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, Evercore ISI boosted their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. 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. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $198.76.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 1,590 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the transaction, the director now directly owns 2,108 shares in the company, valued at approximately $443,143.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kirk W. Walters sold 1,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total value of $334,249.80. Following the sale, the director now directly owns 2,108 shares in the company, valued at approximately $443,143.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,088 shares of company stock worth $12,613,397 over the last 90 days. Insiders own 0.82% of the company’s stock.

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.