IBM Retirement Fund decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,779 shares of the financial services provider’s stock after selling 340 shares during the quarter. IBM Retirement Fund’s holdings in M&T Bank were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in M&T Bank by 15,311.4% in the 2nd quarter. Renaissance Technologies LLC now owns 638,342 shares of the financial services provider’s stock worth $108,614,000 after buying an additional 634,200 shares during the period. Giverny Capital Inc. lifted its stake in shares of M&T Bank by 17.2% in the 2nd quarter. Giverny Capital Inc. now owns 130,646 shares of the financial services provider’s stock valued at $22,229,000 after purchasing an additional 19,142 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of M&T Bank by 194.5% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 200,787 shares of the financial services provider’s stock valued at $34,164,000 after purchasing an additional 132,600 shares during the period. Burney Co. lifted its stake in shares of M&T Bank by 26.8% in the 2nd quarter. Burney Co. now owns 2,203 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 465 shares during the period. Finally, Commonwealth Bank of Australia lifted its stake in shares of M&T Bank by 398.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,366 shares of the financial services provider’s stock valued at $1,250,000 after purchasing an additional 5,889 shares during the period. Hedge funds and other institutional investors own 81.22% of the company’s stock.

NYSE:MTB traded up $0.21 during mid-day trading on Friday, hitting $171.22. 690,414 shares of the company traded hands, compared to its average volume of 706,266. M&T Bank Co. has a one year low of $148.52 and a one year high of $197.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $25.08 billion, a PE ratio of 15.67, a P/E/G ratio of 0.94 and a beta of 0.92.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $3.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.17 by $0.09. M&T Bank had a return on equity of 11.80% and a net margin of 24.57%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. equities analysts forecast that M&T Bank Co. will post 12.84 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.34%. This is an increase from M&T Bank’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, August 31st. M&T Bank’s payout ratio is presently 42.78%.

A number of research analysts have recently commented on the company. ValuEngine cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Tuesday, June 19th. Wedbush raised their target price on M&T Bank from $190.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, July 19th. Sanford C. Bernstein upgraded M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price objective on M&T Bank from $191.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. M&T Bank has an average rating of “Hold” and a consensus target price of $176.13.

In related news, Director Denis J. Salamone sold 25,209 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total value of $4,531,569.84. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.48% of the stock is owned by 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 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.

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

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