Millennium Management LLC Has $150.01 Million Stake in M&T Bank Co. (NYSE:MTB)

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Millennium Management LLC lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 20.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 813,680 shares of the financial services provider’s stock after selling 212,142 shares during the quarter. Millennium Management LLC owned about 0.56% of M&T Bank worth $150,010,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. LPL Financial LLC grew its stake in M&T Bank by 3.6% during the 1st quarter. LPL Financial LLC now owns 8,392 shares of the financial services provider’s stock worth $1,547,000 after buying an additional 293 shares during the last quarter. New Mexico Educational Retirement Board grew its stake in M&T Bank by 2.1% during the 4th quarter. New Mexico Educational Retirement Board now owns 14,590 shares of the financial services provider’s stock worth $2,495,000 after buying an additional 300 shares during the last quarter. ETRADE Capital Management LLC grew its stake in M&T Bank by 9.8% during the 4th quarter. ETRADE Capital Management LLC now owns 3,778 shares of the financial services provider’s stock worth $646,000 after buying an additional 336 shares during the last quarter. Coho Partners Ltd. grew its stake in M&T Bank by 24.1% during the 1st quarter. Coho Partners Ltd. now owns 1,744 shares of the financial services provider’s stock worth $322,000 after buying an additional 339 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its stake in M&T Bank by 9.8% during the 1st quarter. IFM Investors Pty Ltd now owns 4,289 shares of the financial services provider’s stock worth $791,000 after buying an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 78.77% of the company’s stock.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. UBS Group downgraded M&T Bank from a “neutral” rating to a “sell” rating and set a $173.00 target price on the stock. in a research note on Tuesday, April 10th. Wedbush lifted their target price on M&T Bank from $190.00 to $193.00 and gave the company a “neutral” rating in a research note on Tuesday, April 17th. Piper Jaffray Companies reiterated a “hold” rating and issued a $190.00 target price on shares of M&T Bank in a research note on Tuesday, April 17th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $207.00 target price on shares of M&T Bank in a research note on Tuesday, April 17th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $178.81.

In related news, insider Robert J. Bojdak sold 1,570 shares of M&T Bank stock in a transaction on Friday, June 8th. The stock was sold at an average price of $177.93, for a total transaction of $279,350.10. Following the completion of the transaction, the insider now directly owns 20,501 shares of the company’s stock, valued at $3,647,742.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sabeth Siddique sold 975 shares of M&T Bank stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $182.52, for a total value of $177,957.00. Following the transaction, the insider now directly owns 2,759 shares of the company’s stock, valued at $503,572.68. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

MTB opened at $170.15 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $24.50 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. M&T Bank Co. has a 12 month low of $141.12 and a 12 month high of $197.37.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 16th. The financial services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.53). The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. M&T Bank had a net margin of 23.12% and a return on equity of 10.91%. During the same period in the prior year, the business earned $2.12 earnings per share. research analysts forecast that M&T Bank Co. will post 12.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 1st were issued a $0.80 dividend. This is a boost from M&T Bank’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Thursday, May 31st. M&T Bank’s dividend payout ratio (DPR) is currently 34.22%.

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 retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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

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