Vinva Investment Management Ltd Has $1.76 Million Stake in M&T Bank Co. (NYSE:MTB)

Vinva Investment Management Ltd boosted its stake in M&T Bank Co. (NYSE:MTB) by 80.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,021 shares of the financial services provider’s stock after purchasing an additional 4,483 shares during the period. Vinva Investment Management Ltd’s holdings in M&T Bank were worth $1,758,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. B. Riley Wealth Advisors Inc. grew its holdings in M&T Bank by 18.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,785 shares of the financial services provider’s stock worth $841,000 after acquiring an additional 915 shares during the period. Swedbank AB acquired a new stake in M&T Bank during the 1st quarter worth about $1,376,000. Atria Investments Inc acquired a new stake in M&T Bank during the 1st quarter worth about $1,014,000. Cetera Investment Advisers grew its holdings in M&T Bank by 115.9% during the 1st quarter. Cetera Investment Advisers now owns 35,465 shares of the financial services provider’s stock worth $5,158,000 after acquiring an additional 19,041 shares during the period. Finally, Cetera Advisors LLC grew its holdings in M&T Bank by 168.9% during the 1st quarter. Cetera Advisors LLC now owns 18,253 shares of the financial services provider’s stock worth $2,655,000 after acquiring an additional 11,465 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

M&T Bank stock opened at $219.99 on Friday. M&T Bank Co. has a 52 week low of $125.61 and a 52 week high of $225.70. The company’s 50 day moving average price is $196.45 and its two-hundred day moving average price is $171.86. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock has a market cap of $36.50 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.11 and a beta of 0.74.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. On average, equities analysts predict that M&T Bank Co. will post 14.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. M&T Bank’s dividend payout ratio is currently 39.97%.

Insiders Place Their Bets

In other news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a 18.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,504 shares of company stock valued at $18,394,012 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MTB shares. Royal Bank of Canada increased their price target on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Wedbush increased their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Barclays increased their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, DA Davidson increased their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average target price of $206.41.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.