M&T Bank Co. (NYSE:MTB) Stock Holdings Decreased by Park Place Capital Corp

Park Place Capital Corp lowered its stake in M&T Bank Co. (NYSE:MTB) by 20.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 302 shares of the financial services provider’s stock after selling 80 shares during the period. Park Place Capital Corp’s holdings in M&T Bank were worth $44,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC grew its position in shares of M&T Bank by 26.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,964 shares of the financial services provider’s stock valued at $1,133,000 after buying an additional 1,853 shares during the last quarter. Bank of Nova Scotia grew its position in shares of M&T Bank by 13.1% during the 3rd quarter. Bank of Nova Scotia now owns 16,354 shares of the financial services provider’s stock valued at $2,068,000 after buying an additional 1,900 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of M&T Bank by 45.7% during the 3rd quarter. Lazard Asset Management LLC now owns 5,745 shares of the financial services provider’s stock valued at $725,000 after buying an additional 1,803 shares during the last quarter. AQR Capital Management LLC grew its position in shares of M&T Bank by 371.7% during the 3rd quarter. AQR Capital Management LLC now owns 58,099 shares of the financial services provider’s stock valued at $7,347,000 after buying an additional 45,783 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of M&T Bank by 63.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 9,340 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 3,639 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 43,426 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the sale, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director John P. Barnes sold 43,426 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the sale, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the sale, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The disclosure for this sale can be found here. Insiders sold a total of 97,553 shares of company stock valued at $14,724,147 over the last ninety days. Insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 1.0 %

Shares of NYSE:MTB opened at $149.82 on Tuesday. The company has a 50 day moving average of $148.32 and a 200-day moving average of $142.02. The firm has a market cap of $25.00 billion, a P/E ratio of 10.13, a P/E/G ratio of 2.97 and a beta of 0.77. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $156.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company earned $4.09 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 13.99 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, June 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 3.60%. M&T Bank’s dividend payout ratio is currently 36.51%.

Analysts Set New Price Targets

MTB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $170.00 price objective on shares of M&T Bank in a research report on Thursday, June 27th. DA Davidson reaffirmed a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Wells Fargo & Company upped their target price on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, Jefferies Financial Group upped their target price on shares of M&T Bank from $151.00 to $160.00 and gave the stock a “hold” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.51.

M&T Bank Company Profile

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.