M&T Bank Co. (NYSE:MTB) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI increased its stake in M&T Bank Co. (NYSE:MTB) by 7.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,855 shares of the financial services provider’s stock after acquiring an additional 9,082 shares during the period. National Bank of Canada FI owned approximately 0.08% of M&T Bank worth $20,354,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. General Partner Inc. acquired a new stake in shares of M&T Bank in the first quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new position in M&T Bank in the first quarter valued at $30,000. Oakworth Capital Inc. purchased a new position in M&T Bank in the second quarter valued at $35,000. Principal Securities Inc. purchased a new position in M&T Bank in the fourth quarter valued at $34,000. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in M&T Bank by 677.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock valued at $57,000 after buying an additional 359 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on MTB shares. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Jefferies Financial Group raised their price objective on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $183.00 to $215.00 in a report on Tuesday. Finally, Royal Bank of Canada raised their price target on M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average target price of $175.85.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $166.51 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a market cap of $27.78 billion, a P/E ratio of 11.26, a PEG ratio of 3.45 and a beta of 0.77. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $176.44. The company has a 50-day moving average price of $163.27 and a 200 day moving average price of $151.09.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm earned $5.12 EPS. Research analysts predict that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.24%. M&T Bank’s payout ratio is 36.51%.

Insider Activity

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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 of the company’s stock, valued at approximately $5,476,225.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael J. Todaro sold 4,791 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the transaction, the executive vice president now directly owns 3,086 shares of the company’s stock, valued at $501,691.02. The disclosure for this sale can be found here. In the last three months, insiders sold 32,699 shares of company stock worth $5,115,349. Company insiders own 0.82% of the company’s stock.

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.