Aperio Group LLC Trims Stock Holdings in M&T Bank Co. (NYSE:MTB)

Aperio Group LLC reduced its stake in M&T Bank Co. (NYSE:MTB) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,966 shares of the financial services provider’s stock after selling 4,513 shares during the period. Aperio Group LLC’s holdings in M&T Bank were worth $4,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Advisors Asset Management Inc. raised its holdings in M&T Bank by 2.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,100 shares of the financial services provider’s stock valued at $426,000 after buying an additional 109 shares during the period. World Asset Management Inc raised its holdings in M&T Bank by 2.5% in the 3rd quarter. World Asset Management Inc now owns 4,909 shares of the financial services provider’s stock valued at $452,000 after buying an additional 119 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in M&T Bank by 1.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,586 shares of the financial services provider’s stock valued at $698,000 after buying an additional 126 shares during the period. JFS Wealth Advisors LLC raised its holdings in M&T Bank by 15.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,049 shares of the financial services provider’s stock valued at $97,000 after buying an additional 141 shares during the period. Finally, First United Bank Trust raised its holdings in M&T Bank by 2.6% in the 3rd quarter. First United Bank Trust now owns 6,511 shares of the financial services provider’s stock valued at $600,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 82.84% of the company’s stock.

In other news, EVP Doris P. Meister sold 885 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $101.35, for a total transaction of $89,694.75. Following the completion of the sale, the executive vice president now owns 904 shares in the company, valued at $91,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

MTB stock opened at $118.09 on Friday. The company has a market capitalization of $15.15 billion, a P/E ratio of 11.79, a PEG ratio of 3.71 and a beta of 1.20. M&T Bank Co. has a twelve month low of $85.09 and a twelve month high of $174.00. The business has a 50 day simple moving average of $105.10 and a 200-day simple moving average of $103.90. The company has a current ratio of 1.02, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $2.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.63 by $0.14. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. M&T Bank had a return on equity of 9.45% and a net margin of 21.49%. During the same period in the prior year, the company earned $3.50 earnings per share. Research analysts predict that M&T Bank Co. will post 9.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Monday, November 30th. M&T Bank’s dividend payout ratio (DPR) is presently 32.00%.

A number of analysts have issued reports on MTB shares. TheStreet upgraded shares of M&T Bank from a “c+” rating to a “b-” rating in a research note on Tuesday, November 17th. Zacks Investment Research lowered shares of M&T Bank from a “hold” rating to a “sell” rating and set a $108.00 price target on the stock. in a research note on Tuesday, September 1st. Odeon Capital Group upgraded shares of M&T Bank from a “sell” rating to a “hold” rating and set a $111.00 price target on the stock in a research note on Tuesday, September 8th. Wolfe Research lowered shares of M&T Bank from a “market perform” rating to an “underperform” rating in a research note on Thursday, October 8th. Finally, ValuEngine lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $128.73.

About M&T Bank

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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