First Trust Advisors LP grew its stake in shares of M&T Bank Co. (NYSE:MTB) by 19.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 385,289 shares of the financial services provider’s stock after purchasing an additional 62,455 shares during the period. First Trust Advisors LP’s holdings in M&T Bank were worth $60,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MTB. Marshall Wace LLP boosted its position in shares of M&T Bank by 355.8% in the 1st quarter. Marshall Wace LLP now owns 2,147 shares of the financial services provider’s stock worth $337,000 after buying an additional 1,676 shares in the last quarter. Rockland Trust Co. boosted its position in shares of M&T Bank by 3.7% in the 2nd quarter. Rockland Trust Co. now owns 4,245 shares of the financial services provider’s stock worth $722,000 after buying an additional 150 shares in the last quarter. O Keefe Stevens Advisory Inc. boosted its position in shares of M&T Bank by 4.2% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 2,468 shares of the financial services provider’s stock worth $420,000 after buying an additional 100 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of M&T Bank by 9.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,112 shares of the financial services provider’s stock worth $1,550,000 after buying an additional 806 shares in the last quarter. Finally, Hexavest Inc. purchased a new stake in shares of M&T Bank in the 2nd quarter worth about $35,588,000. Institutional investors own 81.98% of the company’s stock.

In other news, insider Michael J. Todaro bought 186 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $144.84 per share, with a total value of $26,940.24. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Darren J. King sold 3,968 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $162.59, for a total transaction of $645,157.12. Following the completion of the transaction, the chief financial officer now directly owns 42,295 shares of the company’s stock, valued at approximately $6,876,744.05. The disclosure for this sale can be found here. Insiders sold a total of 25,574 shares of company stock valued at $4,245,337 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Several equities research analysts recently commented on MTB shares. Morgan Stanley decreased their price objective on shares of M&T Bank from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Zacks Investment Research lowered shares of M&T Bank from a “hold” rating to a “sell” rating and set a $166.00 price objective on the stock. in a research report on Wednesday, September 18th. Cfra lowered shares of M&T Bank to a “hold” rating and decreased their price objective for the stock from $182.00 to $165.00 in a research report on Thursday, October 24th. Piper Jaffray Companies lowered shares of M&T Bank from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $196.00 to $168.00 in a research report on Monday, July 22nd. Finally, Barclays decreased their price objective on shares of M&T Bank from $206.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $167.62.

Shares of MTB stock opened at $167.59 on Friday. The firm has a 50-day moving average price of $156.87 and a 200 day moving average price of $160.42. M&T Bank Co. has a twelve month low of $133.78 and a twelve month high of $176.11. The company has a market capitalization of $22.21 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.35 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.12). M&T Bank had a net margin of 28.58% and a return on equity of 13.82%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm posted $3.53 EPS. As a group, research analysts predict that M&T Bank Co. will post 13.7 earnings per share for the current year.

M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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