Meadow Creek Investment Management LLC grew its stake in M&T Bank Co. (NYSE:MTB) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,960 shares of the financial services provider’s stock after purchasing an additional 280 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in M&T Bank were worth $1,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in M&T Bank by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 746,514 shares of the financial services provider’s stock valued at $106,839,000 after purchasing an additional 9,307 shares in the last quarter. Geode Capital Management LLC increased its stake in M&T Bank by 5.0% in 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 purchasing an additional 95,142 shares in the last quarter. First Republic Investment Management Inc. increased its stake in M&T Bank by 4.2% in the first quarter. First Republic Investment Management Inc. now owns 3,591 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 144 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in M&T Bank by 3.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 10,463 shares of the financial services provider’s stock valued at $1,643,000 after purchasing an additional 387 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its stake in M&T Bank by 22.7% in the first quarter. First Allied Advisory Services Inc. now owns 3,957 shares of the financial services provider’s stock valued at $620,000 after purchasing an additional 732 shares in the last quarter. 82.11% of the stock is currently owned by institutional investors.

In other M&T Bank news, insider Michael J. Todaro bought 186 shares of M&T Bank stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $144.84 per share, for a total transaction of $26,940.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Todaro bought 1,025 shares of M&T Bank stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of $149.51 per share, with a total value of $153,247.75. Following the acquisition, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $149,510. The disclosure for this purchase can be found here. Insiders have sold 4,828 shares of company stock valued at $770,668 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Several brokerages have commented on MTB. Keefe, Bruyette & Woods lowered their target price on shares of M&T Bank from $189.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, July 19th. Macquarie set a $158.00 target price on shares of M&T Bank and gave the company a “sell” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $173.00 to $174.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group reduced their price target on shares of M&T Bank from $176.00 to $172.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Barclays reduced their price target on shares of M&T Bank from $217.00 to $206.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $176.77.

Shares of M&T Bank stock traded up $2.31 on Friday, hitting $159.10. The company had a trading volume of 242,801 shares, compared to its average volume of 602,809. The firm has a market capitalization of $20.73 billion, a P/E ratio of 12.37, a P/E/G ratio of 2.17 and a beta of 1.09. M&T Bank Co. has a twelve month low of $133.78 and a twelve month high of $176.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a 50-day moving average of $151.67 and a 200-day moving average of $162.94.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.36). The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. M&T Bank had a net margin of 29.81% and a return on equity of 14.26%. During the same quarter last year, the company earned $3.26 EPS. Equities analysts predict that M&T Bank Co. will post 13.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, August 30th. M&T Bank’s payout ratio is 31.10%.

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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