M&T Bank Corporation (MTB) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P reduced its position in shares of M&T Bank Corporation (NYSE:MTB) by 7.5% during the first quarter, Holdings Channel reports. The fund owned 259,587 shares of the bank’s stock after selling 21,121 shares during the period. Loomis Sayles & Co. L P’s holdings in M&T Bank Corporation were worth $40,166,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kentucky Retirement Systems purchased a new stake in shares of M&T Bank Corporation during the fourth quarter worth about $1,760,000. Hudson Bay Capital Management LP purchased a new stake in shares of M&T Bank Corporation during the fourth quarter worth about $297,000. UBS Asset Management Americas Inc. raised its stake in shares of M&T Bank Corporation by 4.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 413,011 shares of the bank’s stock worth $64,608,000 after buying an additional 17,299 shares during the last quarter. Norges Bank purchased a new stake in shares of M&T Bank Corporation during the fourth quarter worth about $130,002,000. Finally, WFG Advisors LP raised its stake in shares of M&T Bank Corporation by 39,277.8% in the fourth quarter. WFG Advisors LP now owns 3,544 shares of the bank’s stock worth $107,000 after buying an additional 3,535 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

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

Shares of M&T Bank Corporation (NYSE MTB) traded down 0.390% during trading on Tuesday, hitting $162.025. 114,913 shares of the company were exchanged. The stock has a market cap of $24.93 billion, a P/E ratio of 19.834 and a beta of 0.76. M&T Bank Corporation has a 12 month low of $108.04 and a 12 month high of $173.72. The company’s 50-day moving average price is $159.37 and its 200 day moving average price is $158.86.

M&T Bank Corporation (NYSE:MTB) last released its quarterly earnings results on Monday, April 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm posted $1.87 EPS. On average, equities analysts predict that M&T Bank Corporation will post $9.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 1st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, May 30th. M&T Bank Corporation’s dividend payout ratio (DPR) is 36.67%.

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A number of brokerages have issued reports on MTB. Zacks Investment Research lowered M&T Bank Corporation from a “buy” rating to a “hold” rating in a research report on Monday, February 27th. BidaskClub raised M&T Bank Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Keefe, Bruyette & Woods set a $160.00 target price on M&T Bank Corporation and gave the company a “hold” rating in a research report on Monday. Jefferies Group LLC reissued a “hold” rating and issued a $174.00 target price on shares of M&T Bank Corporation in a research report on Friday, May 5th. Finally, ValuEngine raised M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $154.27.

In related news, insider Richard S. Gold sold 6,904 shares of M&T Bank Corporation stock in a transaction on Friday, June 9th. The shares were sold at an average price of $162.71, for a total transaction of $1,123,349.84. Following the sale, the insider now owns 39,326 shares of the company’s stock, valued at approximately $6,398,733.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian E. Hickey sold 2,000 shares of M&T Bank Corporation stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $162.02, for a total transaction of $324,040.00. Following the sale, the insider now directly owns 12,169 shares in the company, valued at approximately $1,971,621.38. The disclosure for this sale can be found here. Insiders own 3.18% of the company’s stock.

About M&T Bank Corporation

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MTB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Corporation (NYSE:MTB).

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