Jarislowsky Fraser Ltd trimmed its stake in shares of M&T Bank Corporation (NYSE:MTB) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,124 shares of the bank’s stock after selling 670 shares during the period. Jarislowsky Fraser Ltd owned about 0.21% of M&T Bank Corporation worth $51,874,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MTB. Oppenheimer Asset Management Inc. acquired a new stake in shares of M&T Bank Corporation during the first quarter worth $101,000. Dupont Capital Management Corp bought a new position in M&T Bank Corporation in the second quarter valued at $140,000. QCI Asset Management Inc. NY grew its position in M&T Bank Corporation by 0.3% in the second quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock valued at $171,000 after purchasing an additional 3 shares in the last quarter. Sun Life Financial INC grew its position in M&T Bank Corporation by 8,576.9% in the second quarter. Sun Life Financial INC now owns 1,128 shares of the bank’s stock valued at $183,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Mosaic Family Wealth LLC grew its position in M&T Bank Corporation by 5.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock valued at $198,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 79.28% of the company’s stock.

Shares of M&T Bank Corporation (NYSE MTB) traded down $1.51 during trading on Monday, reaching $157.10. 726,900 shares of the company’s stock traded hands, compared to its average volume of 759,423. M&T Bank Corporation has a twelve month low of $132.70 and a twelve month high of $173.72. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.57. The firm has a market cap of $23,645.97, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.91 and a beta of 0.85.

M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.19). M&T Bank Corporation had a return on equity of 9.52% and a net margin of 23.97%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm earned $2.10 EPS. equities analysts forecast that M&T Bank Corporation will post 9.1 EPS for the current year.

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In other news, insider Randolph Michael Kasum sold 530,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $0.08, for a total value of $42,400.00. Also, insider Sabeth Siddique sold 950 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total transaction of $139,811.50. Following the completion of the transaction, the insider now owns 1,488 shares of the company’s stock, valued at $218,988.96. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,053,000 shares of company stock valued at $89,640 and sold 1,779,680 shares valued at $1,912,181. 3.18% of the stock is owned by insiders.

A number of research firms recently weighed in on MTB. Macquarie downgraded shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research report on Friday, August 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $167.00 target price on shares of M&T Bank Corporation in a research report on Friday, July 21st. Zacks Investment Research raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research report on Tuesday, September 19th. Citigroup Inc. reissued a “neutral” rating and issued a $170.00 price objective (up previously from $160.00) on shares of M&T Bank Corporation in a research report on Monday, October 9th. Finally, BidaskClub downgraded shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $161.89.

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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