M&T Bank Co. (MTB) Shares Bought by National Pension Service

National Pension Service grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 135,030 shares of the financial services provider’s stock after acquiring an additional 2,977 shares during the quarter. National Pension Service’s holdings in M&T Bank were worth $23,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. BB&T Corp increased its stake in shares of M&T Bank by 7.2% during the third quarter. BB&T Corp now owns 29,244 shares of the financial services provider’s stock valued at $4,710,000 after buying an additional 1,952 shares during the period. Toronto Dominion Bank increased its stake in shares of M&T Bank by 9.4% during the third quarter. Toronto Dominion Bank now owns 57,543 shares of the financial services provider’s stock valued at $9,266,000 after buying an additional 4,958 shares during the period. California Public Employees Retirement System increased its stake in shares of M&T Bank by 5.6% during the third quarter. California Public Employees Retirement System now owns 418,997 shares of the financial services provider’s stock valued at $67,475,000 after buying an additional 22,223 shares during the period. Huntington National Bank increased its stake in shares of M&T Bank by 3.3% during the third quarter. Huntington National Bank now owns 97,191 shares of the financial services provider’s stock valued at $15,652,000 after buying an additional 3,098 shares during the period. Finally, Achmea Investment Management B.V. increased its stake in shares of M&T Bank by 266.9% during the third quarter. Achmea Investment Management B.V. now owns 12,719 shares of the financial services provider’s stock valued at $2,046,000 after buying an additional 9,252 shares during the period. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

In other M&T Bank news, VP Michele D. Trolli sold 9,730 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $167.89, for a total value of $1,633,569.70. Following the sale, the vice president now directly owns 24,708 shares of the company’s stock, valued at $4,148,226.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary N. Geisel sold 1,046 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $170.49, for a total value of $178,332.54. Following the completion of the sale, the director now directly owns 17,586 shares in the company, valued at $2,998,237.14. The disclosure for this sale can be found here. Over the last three months, insiders acquired 114,000 shares of company stock worth $9,710 and sold 32,128 shares worth $5,474,208. Insiders own 3.18% of the company’s stock.

Shares of M&T Bank Co. (MTB) opened at $188.78 on Friday. The company has a quick ratio of 1.05, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. M&T Bank Co. has a 1-year low of $141.12 and a 1-year high of $188.85. The company has a market capitalization of $28,018.44, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.32 and a beta of 0.84.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.26. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. sell-side analysts anticipate that M&T Bank Co. will post 11.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, November 30th. M&T Bank’s dividend payout ratio (DPR) is 34.52%.

Several equities research analysts recently weighed in on MTB shares. Robert W. Baird restated a “sell” rating and set a $145.00 price target on shares of M&T Bank in a research report on Friday, October 20th. Nomura lifted their price target on M&T Bank from $145.00 to $162.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. UBS Group upgraded M&T Bank from a “sell” rating to a “neutral” rating and lifted their price target for the company from $150.00 to $173.00 in a research report on Tuesday, December 12th. Wells Fargo & Co set a $180.00 price target on M&T Bank and gave the company a “hold” rating in a research report on Wednesday, December 20th. Finally, Citigroup restated a “neutral” rating and set a $170.00 price target (up from $160.00) on shares of M&T Bank in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $170.78.

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About M&T Bank

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

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