FormulaFolio Investments LLC purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,249 shares of the financial services provider’s stock, valued at approximately $699,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its holdings in shares of M&T Bank by 113.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,360 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 4,440 shares during the last quarter. TIAA FSB raised its holdings in shares of M&T Bank by 5.7% in the second quarter. TIAA FSB now owns 13,910 shares of the financial services provider’s stock worth $2,367,000 after buying an additional 753 shares during the last quarter. Unigestion Holding SA purchased a new position in shares of M&T Bank in the second quarter worth $22,716,000. Meeder Asset Management Inc. raised its holdings in shares of M&T Bank by 12.2% in the second quarter. Meeder Asset Management Inc. now owns 3,929 shares of the financial services provider’s stock worth $669,000 after buying an additional 428 shares during the last quarter. Finally, Hermes Investment Management Ltd. raised its holdings in shares of M&T Bank by 17.5% in the second quarter. Hermes Investment Management Ltd. now owns 170,642 shares of the financial services provider’s stock worth $29,035,000 after buying an additional 25,375 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have issued reports on MTB. Keefe, Bruyette & Woods raised shares of M&T Bank from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, September 3rd. Zacks Investment Research cut shares of M&T Bank from a “buy” rating to a “hold” rating in a report on Friday, September 21st. Vining Sparks reissued a “buy” rating and set a $220.00 target price on shares of M&T Bank in a report on Tuesday, October 9th. Morgan Stanley reduced their target price on shares of M&T Bank from $195.00 to $190.00 and set an “equal weight” rating for the company in a report on Tuesday, September 18th. Finally, ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $184.36.

Shares of M&T Bank stock opened at $168.58 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.07 and a quick ratio of 1.07. M&T Bank Co. has a 1 year low of $154.33 and a 1 year high of $197.37. The firm has a market cap of $23.73 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $3.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.35 by $0.18. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. M&T Bank had a net margin of 26.84% and a return on equity of 13.15%. During the same quarter last year, the business earned $2.21 earnings per share. As a group, equities analysts anticipate that M&T Bank Co. will post 13.04 earnings per share for the current fiscal year.

In related news, EVP Robert J. Bojdak sold 934 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $164.50, for a total transaction of $153,643.00. Following the sale, the executive vice president now owns 19,567 shares in the company, valued at $3,218,771.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sabeth Siddique sold 930 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $164.80, for a total transaction of $153,264.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,873 shares of company stock worth $4,972,269. 0.48% of the stock is owned by company insiders.

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M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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

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