M&T Bank Corp lessened its holdings in shares of M&T Bank Co. (NYSE:MTB) by 12.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,054,579 shares of the financial services provider’s stock after selling 150,087 shares during the period. M&T Bank accounts for approximately 0.9% of M&T Bank Corp’s investment portfolio, making the stock its 21st biggest holding. M&T Bank Corp’s holdings in M&T Bank were worth $180,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MTB. Calton & Associates Inc. acquired a new stake in shares of M&T Bank during the 4th quarter worth about $178,000. Savant Capital LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $202,000. Shelton Capital Management acquired a new stake in shares of M&T Bank during the 4th quarter worth about $202,000. Wedbush Securities Inc. acquired a new stake in shares of M&T Bank during the 3rd quarter worth about $206,000. Finally, McCollum Christoferson Group LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $209,000. 77.70% of the stock is currently owned by institutional investors and hedge funds.

In other M&T Bank news, Director Gary N. Geisel sold 1,046 shares of M&T Bank stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $170.49, for a total value of $178,332.54. Following the transaction, the director now directly owns 17,586 shares in the company, valued at approximately $2,998,237.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Todaro sold 672 shares of M&T Bank stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $188.56, for a total value of $126,712.32. Following the completion of the transaction, the insider now owns 814 shares in the company, valued at $153,487.84. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 29,000 shares of company stock worth $2,710 and sold 92,427 shares worth $17,033,174. Company insiders own 3.18% of the company’s stock.

Several brokerages have recently weighed in on MTB. Wedbush reissued a “neutral” rating and set a $186.00 target price (up previously from $180.00) on shares of M&T Bank in a research report on Tuesday. Keefe, Bruyette & Woods reissued a “hold” rating on shares of M&T Bank in a research report on Tuesday. Piper Jaffray Companies reissued a “neutral” rating on shares of M&T Bank in a research report on Thursday, January 18th. Zacks Investment Research raised M&T Bank from a “hold” rating to a “strong-buy” rating and set a $217.00 target price on the stock in a research report on Wednesday, January 24th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $180.00 target price on shares of M&T Bank in a research report on Thursday, December 14th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $176.12.

M&T Bank Co. (NYSE MTB) opened at $178.35 on Friday. The company has a market capitalization of $27,840.83, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.91. M&T Bank Co. has a 12-month low of $141.12 and a 12-month high of $193.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, topping the consensus estimate of $2.40 by $0.26. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. equities analysts expect that M&T Bank Co. will post 12.14 EPS for the current year.

M&T Bank declared that its Board of Directors has authorized a stock repurchase plan on Monday, February 5th that authorizes the company to repurchase $745.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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M&T Bank 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 (NYSE:MTB)

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