Strs Ohio reduced its position in shares of M&T Bank Corporation (NYSE:MTB) by 15.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,739 shares of the bank’s stock after selling 2,272 shares during the period. Strs Ohio’s holdings in M&T Bank Corporation were worth $2,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moody Lynn & Lieberson LLC bought a new position in M&T Bank Corporation during the second quarter worth approximately $1,006,000. Russell Investments Group Ltd. boosted its position in M&T Bank Corporation by 14.0% in the second quarter. Russell Investments Group Ltd. now owns 141,286 shares of the bank’s stock worth $22,882,000 after buying an additional 17,303 shares during the last quarter. Berkshire Asset Management LLC PA boosted its position in M&T Bank Corporation by 0.8% in the second quarter. Berkshire Asset Management LLC PA now owns 130,338 shares of the bank’s stock worth $21,108,000 after buying an additional 1,085 shares during the last quarter. Huntington National Bank boosted its position in M&T Bank Corporation by 15.3% in the second quarter. Huntington National Bank now owns 94,093 shares of the bank’s stock worth $15,239,000 after buying an additional 12,461 shares during the last quarter. Finally, BB&T Corp boosted its position in M&T Bank Corporation by 40.2% in the second quarter. BB&T Corp now owns 27,292 shares of the bank’s stock worth $4,420,000 after buying an additional 7,830 shares during the last quarter. 79.63% of the stock is currently owned by institutional investors.

Shares of M&T Bank Corporation (NYSE MTB) opened at 158.72 on Friday. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 18.58 and a beta of 0.77. The company’s 50 day moving average is $162.46 and its 200-day moving average is $160.80. M&T Bank Corporation has a 1-year low of $112.25 and a 1-year high of $173.72.

M&T Bank Corporation (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 19th. The bank reported $2.35 EPS for the quarter, topping the consensus estimate of $2.27 by $0.08. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. M&T Bank Corporation had a return on equity of 9.48% and a net margin of 24.10%. M&T Bank Corporation’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. Equities analysts anticipate that M&T Bank Corporation will post $9.27 earnings per share for the current fiscal year.

M&T Bank Corporation declared that its board has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $900.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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A number of research analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of M&T Bank Corporation in a research report on Wednesday. They issued a “market perform” rating and a $170.00 target price on the stock. Macquarie lowered shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research note on Friday, August 4th. BidaskClub lowered shares of M&T Bank Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $167.00 price target on shares of M&T Bank Corporation in a research note on Friday, July 21st. Finally, Instinet reiterated a “neutral” rating and set a $144.00 price target on shares of M&T Bank Corporation in a research note on Wednesday, July 12th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. M&T Bank Corporation currently has an average rating of “Hold” and a consensus target price of $161.00.

In related news, insider Brian E. Hickey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $162.02, for a total transaction of $324,040.00. Following the transaction, the insider now directly owns 12,169 shares of the company’s stock, valued at approximately $1,971,621.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert J. Bojdak sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $163.42, for a total value of $196,104.00. Following the transaction, the insider now directly owns 20,217 shares in the company, valued at $3,303,862.14. The disclosure for this sale can be found here. Insiders have sold a total of 19,012 shares of company stock worth $3,106,633 over the last three months. 3.18% of the stock is currently owned by corporate insiders.

M&T Bank Corporation Company Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

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

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