M&T Bank Co. (NYSE:MTB) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 1.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 353,497 shares of the financial services provider’s stock after acquiring an additional 3,771 shares during the quarter. Clearbridge Investments LLC owned about 0.21% of M&T Bank worth $53,505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of M&T Bank by 9.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,896 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 346 shares during the period. TD Asset Management Inc boosted its holdings in shares of M&T Bank by 5.3% in the 4th quarter. TD Asset Management Inc now owns 61,659 shares of the financial services provider’s stock valued at $8,452,000 after acquiring an additional 3,090 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of M&T Bank by 3.3% in the fourth quarter. California State Teachers Retirement System now owns 271,879 shares of the financial services provider’s stock worth $37,269,000 after acquiring an additional 8,799 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of M&T Bank during the fourth quarter worth $541,000. Finally, KBC Group NV boosted its holdings in M&T Bank by 2.9% in the fourth quarter. KBC Group NV now owns 88,570 shares of the financial services provider’s stock valued at $12,141,000 after purchasing an additional 2,493 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MTB shares. Jefferies Financial Group lifted their price objective on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Wedbush boosted 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. Morgan Stanley raised their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Wells Fargo & Company cut shares of M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their price target for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.13.

M&T Bank Stock Up 0.3 %

Shares of MTB opened at $173.20 on Thursday. The stock has a 50 day moving average price of $168.79 and a 200 day moving average price of $155.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $28.90 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 3.55 and a beta of 0.76. M&T Bank Co. has a one year low of $108.53 and a one year high of $180.63.

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 for the quarter, topping the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period last year, the firm posted $5.12 earnings per share. Equities research analysts forecast that M&T Bank Co. will post 14.23 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Activity

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Michael J. Todaro sold 4,791 shares of the company’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 value of $778,872.87. Following the transaction, the executive vice president now directly owns 3,086 shares in the company, valued at $501,691.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 over the last ninety days. Corporate 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.