M&T Bank Corporation (MTB) Shares Sold by Jarislowsky Fraser Ltd
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.
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.
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 Corporation (NYSE:MTB).
Receive News & Ratings for M&T Bank Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank Corporation and related companies with MarketBeat.com's FREE daily email newsletter.