Massachusetts Financial Services Co. MA Purchases 8,384 Shares of M&T Bank Corporation (MTB)

Massachusetts Financial Services Co. MA increased its stake in shares of M&T Bank Corporation (NYSE:MTB) by 2.4% during the first quarter, Holdings Channel reports. The firm owned 363,195 shares of the bank’s stock after buying an additional 8,384 shares during the period. Massachusetts Financial Services Co. MA’s holdings in M&T Bank Corporation were worth $56,197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTB. LVW Advisors LLC increased its position in shares of M&T Bank Corporation by 0.8% in the first quarter. LVW Advisors LLC now owns 3,298 shares of the bank’s stock worth $532,000 after buying an additional 25 shares during the last quarter. Mosaic Family Wealth LLC increased its position in shares of M&T Bank Corporation by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 1,163 shares of the bank’s stock worth $180,000 after buying an additional 33 shares during the last quarter. First Midwest Bank Trust Division increased its position in shares of M&T Bank Corporation by 1.1% in the first quarter. First Midwest Bank Trust Division now owns 3,204 shares of the bank’s stock worth $496,000 after buying an additional 34 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of M&T Bank Corporation by 1.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,721 shares of the bank’s stock worth $538,000 after buying an additional 53 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in shares of M&T Bank Corporation by 4.1% in the first quarter. Wetherby Asset Management Inc. now owns 1,821 shares of the bank’s stock worth $282,000 after buying an additional 71 shares during the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

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

Shares of M&T Bank Corporation (NYSE:MTB) traded down 0.44% during trading on Tuesday, hitting $161.95. 110,052 shares of the stock were exchanged. The stock’s 50 day moving average price is $159.37 and its 200-day moving average price is $158.86. The company has a market cap of $24.92 billion, a price-to-earnings ratio of 19.82 and a beta of 0.76. M&T Bank Corporation has a one year low of $108.04 and a one year high of $173.72.

M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings data on Monday, April 17th. The bank reported $2.12 EPS for the quarter, topping the consensus estimate of $1.94 by $0.18. M&T Bank Corporation had a net margin of 23.62% and a return on equity of 9.22%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business posted $1.87 EPS. On average, analysts predict that M&T Bank Corporation will post $9.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.84%. M&T Bank Corporation’s dividend payout ratio is currently 36.67%.

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A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods set a $160.00 price target on shares of M&T Bank Corporation and gave the company a “hold” rating in a report on Monday. Zacks Investment Research downgraded shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub raised shares of M&T Bank Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $152.00 price target on shares of M&T Bank Corporation in a report on Tuesday, June 6th. Finally, ValuEngine raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $154.27.

In other news, insider Brian E. Hickey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total value of $324,040.00. Following the transaction, the insider now directly owns 12,169 shares in the company, valued at approximately $1,971,621.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard S. Gold sold 6,904 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $162.71, for a total transaction of $1,123,349.84. Following the completion of the transaction, the insider now owns 39,326 shares in the company, valued at $6,398,733.46. The disclosure for this sale can be found here. Corporate insiders own 3.18% of the company’s stock.

M&T Bank Corporation 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.

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