M&T Bank Corporation $MTB Stake Decreased by Axiom Investment Management LLC

Axiom Investment Management LLC trimmed its position in M&T Bank Corporation (NYSE:MTB) by 17.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,161 shares of the financial services provider’s stock after selling 2,601 shares during the period. M&T Bank comprises approximately 2.1% of Axiom Investment Management LLC’s holdings, making the stock its 11th biggest holding. Axiom Investment Management LLC’s holdings in M&T Bank were worth $2,646,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MTB. Bank of New York Mellon Corp bought a new position in shares of M&T Bank in the second quarter valued at approximately $330,978,000. Davis Asset Management L.P. bought a new stake in M&T Bank during the 2nd quarter worth approximately $97,584,000. Squarepoint Ops LLC increased its holdings in M&T Bank by 718.5% during the 2nd quarter. Squarepoint Ops LLC now owns 224,397 shares of the financial services provider’s stock worth $53,409,000 after acquiring an additional 196,982 shares during the period. Danske Bank A S bought a new stake in M&T Bank during the 2nd quarter worth approximately $34,683,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in M&T Bank by 205.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 110,553 shares of the financial services provider’s stock worth $26,313,000 after purchasing an additional 74,353 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $218.16 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $31.51 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.26 and a beta of 0.64. The business’s 50-day moving average price is $224.35 and its 200-day moving average price is $225.29. M&T Bank Corporation has a 12 month low of $179.75 and a 12 month high of $255.95.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, October 16th. The financial services provider reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.93 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.53 billion. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. During the same period last year, the firm posted $4.82 EPS. Sell-side analysts forecast that M&T Bank Corporation will post 19.48 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is presently 31.32%.

Analyst Ratings Changes

Several brokerages have commented on MTB. Barclays raised their price target on shares of M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Royal Bank Of Canada decreased their price target on shares of M&T Bank from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, July 16th. TD Cowen assumed coverage on M&T Bank in a research note on Thursday, October 8th. They set a “hold” rating and a $245.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research report on Thursday, July 23rd. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $244.89.

Insider Buying and Selling

In other news, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares in the company, valued at approximately $879,554.96. The trade was a 14.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rene F. Jones sold 19,396 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the completion of the sale, the chief executive officer directly owned 103,831 shares of the company’s stock, valued at $24,851,949.85. This trade represents a 15.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.44% of the stock is owned by company insiders.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Founded in 1856 as Manufacturers and Traders Bank, the company operates primarily through M&T Bank and its wealth-management subsidiary, Wilmington Trust.

M&T provides retail and commercial banking services, including checking and savings accounts, loans, mortgages, credit cards, and cash-management services. Through Wilmington Trust and other businesses, it also offers wealth management, trust, investment, and related financial services.

The company serves individuals, businesses, and institutions across parts of the northeastern and Mid-Atlantic United States, with a presence extending into the Washington, DC, area.