Fisher Asset Management LLC decreased its stake in M&T Bank Corp. (NYSE:MTB) by 11.6% during the third quarter, Holdings Channel reports. The institutional investor owned 44,598 shares of the company’s stock after selling 5,828 shares during the period. Fisher Asset Management LLC’s holdings in M&T Bank Corp. were worth $5,178,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wetherby Asset Management Inc. raised its stake in shares of M&T Bank Corp. by 0.6% in the second quarter. Wetherby Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $234,000 after buying an additional 12 shares in the last quarter. LVW Advisors LLC raised its stake in shares of M&T Bank Corp. by 0.6% in the second quarter. LVW Advisors LLC now owns 3,298 shares of the company’s stock valued at $413,000 after buying an additional 20 shares in the last quarter. First Allied Advisory Services Inc. raised its stake in shares of M&T Bank Corp. by 0.4% in the second quarter. First Allied Advisory Services Inc. now owns 6,480 shares of the company’s stock valued at $767,000 after buying an additional 24 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of M&T Bank Corp. by 1.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,617 shares of the company’s stock valued at $385,000 after buying an additional 50 shares in the last quarter. Finally, Investment Counselors of Maryland LLC raised its stake in shares of M&T Bank Corp. by 3.5% in the second quarter. Investment Counselors of Maryland LLC now owns 1,484 shares of the company’s stock valued at $175,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 76.96% of the company’s stock.

Institutional Ownership by Quarter for M&T Bank Corp. (NYSE:MTB)

M&T Bank Corp. (NYSE:MTB) traded up 0.05% during trading on Tuesday, hitting $140.79. 925,607 shares of the stock were exchanged. The stock’s 50-day moving average price is $126.70 and its 200-day moving average price is $119.04. The firm has a market cap of $21.83 billion, a PE ratio of 18.89 and a beta of 0.70. M&T Bank Corp. has a 12-month low of $100.08 and a 12-month high of $143.99.

M&T Bank Corp. (NYSE:MTB) last released its quarterly earnings data on Wednesday, October 19th. The company reported $2.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.09. M&T Bank Corp. had a net margin of 22.32% and a return on equity of 8.59%. During the same period in the previous year, the firm posted $1.93 EPS. On average, equities analysts expect that M&T Bank Corp. will post $7.89 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.80 annualized dividend and a yield of 1.99%. M&T Bank Corp.’s payout ratio is 37.53%.

TRADEMARK VIOLATION WARNING: “Fisher Asset Management LLC Reduces Position in M&T Bank Corp. (MTB)” was originally reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of international trademark and copyright legislation. The original version of this piece of content can be accessed at http://www.dailypolitical.com/2016/11/29/fisher-asset-management-llc-reduces-position-in-mt-bank-corp-mtb.html.

MTB has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of M&T Bank Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Robert W. Baird restated an “underperform” rating on shares of M&T Bank Corp. in a research note on Thursday, August 4th. Wedbush initiated coverage on shares of M&T Bank Corp. in a research note on Thursday, October 6th. They issued a “neutral” rating and a $117.00 price objective on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of M&T Bank Corp. in a research note on Saturday, November 19th. Finally, Barclays PLC restated a “buy” rating on shares of M&T Bank Corp. in a research note on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $120.50.

In other M&T Bank Corp. news, CEO Robert G. Wilmers sold 60,363 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $118.32, for a total transaction of $7,142,150.16. Following the transaction, the chief executive officer now owns 2,490,996 shares of the company’s stock, valued at approximately $294,734,646.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Todaro sold 13,101 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $141.68, for a total transaction of $1,856,149.68. Following the transaction, the insider now directly owns 15,155 shares in the company, valued at approximately $2,147,160.40. The disclosure for this sale can be found here. Company insiders own 3.63% of the company’s stock.

M&T Bank Corp. Company Profile

M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.

5 Day Chart for NYSE:MTB

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Corp. (NYSE:MTB).

Receive News & Ratings for M&T Bank Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank Corp. and related companies with MarketBeat.com's FREE daily email newsletter.