Cetera Advisors LLC Invests $357,000 in M&T Bank Co. (NYSE:MTB)

Cetera Advisors LLC acquired a new stake in M&T Bank Co. (NYSE:MTB) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,264 shares of the financial services provider’s stock, valued at approximately $357,000.

A number of other large investors have also recently made changes to their positions in the stock. World Asset Management Inc increased its stake in M&T Bank by 0.7% in the third quarter. World Asset Management Inc now owns 8,819 shares of the financial services provider’s stock valued at $1,393,000 after acquiring an additional 64 shares during the last quarter. First Allied Advisory Services Inc. increased its stake in M&T Bank by 1.8% in the second quarter. First Allied Advisory Services Inc. now owns 4,028 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 71 shares during the last quarter. ETRADE Capital Management LLC increased its stake in M&T Bank by 1.8% in the second quarter. ETRADE Capital Management LLC now owns 4,092 shares of the financial services provider’s stock valued at $696,000 after acquiring an additional 72 shares during the last quarter. CX Institutional increased its stake in M&T Bank by 24.8% in the second quarter. CX Institutional now owns 372 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 74 shares during the last quarter. Finally, Sky Investment Group LLC increased its stake in M&T Bank by 0.3% in the second quarter. Sky Investment Group LLC now owns 26,691 shares of the financial services provider’s stock valued at $4,539,000 after acquiring an additional 78 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on MTB. Barclays decreased their price objective on shares of M&T Bank from $206.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Odeon Capital Group started coverage on shares of M&T Bank in a research note on Friday, September 27th. They set a “hold” rating on the stock. Piper Jaffray Companies cut shares of M&T Bank from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $196.00 to $168.00 in a research note on Monday, July 22nd. Wedbush decreased their target price on shares of M&T Bank from $166.00 to $163.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. Finally, UBS Group decreased their target price on shares of M&T Bank from $164.00 to $161.00 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $167.62.

NYSE MTB opened at $162.97 on Tuesday. The firm’s fifty day moving average price is $158.33 and its two-hundred day moving average price is $160.27. The stock has a market cap of $21.64 billion, a PE ratio of 11.73, a PEG ratio of 1.33 and a beta of 1.11. M&T Bank Co. has a fifty-two week low of $133.78 and a fifty-two week high of $176.11. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 1.06.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.12). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. During the same period in the previous year, the firm posted $3.53 EPS. As a group, sell-side analysts predict that M&T Bank Co. will post 13.7 earnings per share for the current fiscal year.

In other news, EVP John L. Dangelo sold 650 shares of M&T Bank stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $154.58, for a total transaction of $100,477.00. Following the transaction, the executive vice president now owns 3,016 shares in the company, valued at $466,213.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Richard S. Gold sold 4,093 shares of M&T Bank stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $169.43, for a total transaction of $693,476.99. Following the transaction, the chief operating officer now owns 38,936 shares in the company, valued at approximately $6,596,926.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,466 shares of company stock worth $4,078,074. 0.54% of the stock is owned by company insiders.

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 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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