Virtu Financial LLC purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) in the third quarter, according to its most recent filing with the SEC. The firm purchased 1,323 shares of the financial services provider’s stock, valued at approximately $213,000.

Several other hedge funds also recently bought and sold shares of MTB. BB&T Corp raised its position in shares of M&T Bank by 7.2% during the 3rd quarter. BB&T Corp now owns 29,244 shares of the financial services provider’s stock worth $4,710,000 after purchasing an additional 1,952 shares during the last quarter. Toronto Dominion Bank raised its position in shares of M&T Bank by 9.4% during the 3rd quarter. Toronto Dominion Bank now owns 57,543 shares of the financial services provider’s stock worth $9,266,000 after purchasing an additional 4,958 shares during the last quarter. Huntington National Bank raised its position in shares of M&T Bank by 3.3% during the 3rd quarter. Huntington National Bank now owns 97,191 shares of the financial services provider’s stock worth $15,652,000 after purchasing an additional 3,098 shares during the last quarter. Dupont Capital Management Corp acquired a new position in shares of M&T Bank during the 2nd quarter worth approximately $140,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of M&T Bank by 88.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 126,191 shares of the financial services provider’s stock worth $20,322,000 after purchasing an additional 59,149 shares during the last quarter. Institutional investors own 79.29% of the company’s stock.

M&T Bank Co. (NYSE:MTB) traded down $1.47 during mid-day trading on Thursday, reaching $171.02. 514,100 shares of the company’s stock traded hands, compared to its average volume of 744,308. The stock has a market cap of $25,962.40, a PE ratio of 19.65, a P/E/G ratio of 2.10 and a beta of 0.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05. M&T Bank Co. has a 12-month low of $141.12 and a 12-month high of $176.62.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by ($0.19). M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm earned $2.10 earnings per share. equities analysts anticipate that M&T Bank Co. will post 9.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.75%. M&T Bank’s dividend payout ratio is presently 34.64%.

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total transaction of $171,190.00. Following the completion of the sale, the director now directly owns 52,049 shares of the company’s stock, valued at approximately $8,910,268.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael R. Spychala sold 13,417 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $170.92, for a total transaction of $2,293,233.64. Following the sale, the vice president now directly owns 51,622 shares of the company’s stock, valued at $8,823,232.24. The disclosure for this sale can be found here. Over the last three months, insiders have bought 604,000 shares of company stock valued at $49,840 and have sold 1,711,082 shares valued at $5,425,776. 3.18% of the stock is owned by insiders.

MTB has been the subject of several research reports. Sanford C. Bernstein restated a “market perform” rating and set a $165.00 price objective (down from $171.00) on shares of M&T Bank in a research report on Saturday, September 16th. Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Robert W. Baird restated a “sell” rating and set a $130.00 price objective on shares of M&T Bank in a research report on Friday, October 6th. Nomura lifted their price objective on M&T Bank from $144.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Finally, BidaskClub cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Four analysts have rated the stock with a sell rating, fourteen have issued 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 price target of $165.22.

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M&T Bank 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.

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

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