M&T Bank Co. (NYSE:MTB) Shares Acquired by APG Asset Management N.V.

APG Asset Management N.V. boosted its holdings in M&T Bank Co. (NYSE:MTB) by 194.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,917 shares of the financial services provider’s stock after purchasing an additional 12,500 shares during the quarter. APG Asset Management N.V.’s holdings in M&T Bank were worth $2,672,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board grew its stake in shares of M&T Bank by 43.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after purchasing an additional 3,739 shares during the last quarter. Leuthold Group LLC acquired a new stake in shares of M&T Bank during the first quarter worth $3,125,000. Rafferty Asset Management LLC grew its position in M&T Bank by 72.1% in the 4th quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock valued at $32,890,000 after buying an additional 100,526 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after buying an additional 35,692 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after buying an additional 18,566 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $178.12 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $168.75 and its 200 day moving average price is $154.98. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $180.63. The stock has a market cap of $29.72 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 3.55 and a beta of 0.76.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business earned $5.12 earnings per share. As a group, research analysts forecast that M&T Bank Co. will post 14.23 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.03%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insider Activity

In related news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the transaction, the director now 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 SEC, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MTB. Royal Bank of Canada boosted their price target on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Wedbush raised their price target on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Bank of America upped their price objective on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group increased their price objective on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $181.33.

M&T Bank Company 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.