Tdam USA Inc. Boosts Stake in M&T Bank Co. (NYSE:MTB)

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Tdam USA Inc. increased its position in M&T Bank Co. (NYSE:MTB) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,056 shares of the financial services provider’s stock after buying an additional 1,831 shares during the period. Tdam USA Inc.’s holdings in M&T Bank were worth $9,023,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. FMR LLC raised its position in M&T Bank by 12.5% during the first quarter. FMR LLC now owns 6,691,210 shares of the financial services provider’s stock valued at $1,050,653,000 after purchasing an additional 744,208 shares during the period. Geode Capital Management LLC grew its stake in shares of M&T Bank by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock valued at $287,704,000 after buying an additional 95,142 shares during the last quarter. Northern Trust Corp grew its stake in shares of M&T Bank by 1.2% during the first quarter. Northern Trust Corp now owns 1,518,223 shares of the financial services provider’s stock valued at $238,392,000 after buying an additional 17,586 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of M&T Bank by 404.6% during the first quarter. PNC Financial Services Group Inc. now owns 841,781 shares of the financial services provider’s stock valued at $132,174,000 after buying an additional 674,968 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of M&T Bank by 3.5% during the second quarter. Janus Henderson Group PLC now owns 821,566 shares of the financial services provider’s stock valued at $139,722,000 after buying an additional 28,071 shares during the last quarter. Institutional investors own 81.41% of the company’s stock.

NYSE:MTB traded up $1.48 during midday trading on Tuesday, hitting $151.34. The stock had a trading volume of 34,796 shares, compared to its average volume of 902,566. M&T Bank Co. has a one year low of $133.78 and a one year high of $180.77. The stock has a market capitalization of $20.03 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company’s 50-day simple moving average is $165.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.36). M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the company earned $3.26 EPS. As a group, research analysts predict that M&T Bank Co. will post 13.89 EPS for the current year.

In other news, insider Doris P. Meister sold 460 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $160.29, for a total transaction of $73,733.40. Following the sale, the insider now directly owns 1,553 shares in the company, valued at approximately $248,930.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Darren J. King sold 1,841 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $162.95, for a total value of $299,990.95. Following the sale, the chief financial officer now owns 46,263 shares in the company, valued at $7,538,555.85. The disclosure for this sale can be found here. In the last three months, insiders sold 5,371 shares of company stock worth $876,652. 0.54% of the stock is owned by insiders.

A number of research analysts have recently commented on the company. Zacks Investment Research cut M&T Bank from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a research note on Monday, July 1st. UBS Group cut their target price on M&T Bank from $176.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Piper Jaffray Companies cut M&T Bank from an “overweight” rating to a “neutral” rating and cut their target price for the company from $196.00 to $168.00 in a research note on Monday, July 22nd. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Wedbush upped their target price on M&T Bank from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $176.77.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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