Elo Mutual Pension Insurance Co Buys Shares of 14,245 M&T Bank Co. (NYSE:MTB)

Elo Mutual Pension Insurance Co purchased a new position in shares of M&T Bank Co. (NYSE:MTB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,245 shares of the financial services provider’s stock, valued at approximately $2,156,000.

Several other institutional investors have also recently made changes to their positions in MTB. Principal Securities Inc. purchased a new stake in shares of M&T Bank in the 4th quarter worth approximately $34,000. Jump Financial LLC purchased a new stake in M&T Bank during the fourth quarter worth $203,000. Clearbridge Investments LLC boosted its position in M&T Bank by 0.7% during the 4th quarter. Clearbridge Investments LLC now owns 344,993 shares of the financial services provider’s stock valued at $47,292,000 after acquiring an additional 2,529 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of M&T Bank by 93.5% in the 4th quarter. Corient Private Wealth LLC now owns 48,351 shares of the financial services provider’s stock valued at $6,628,000 after acquiring an additional 23,362 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of M&T Bank in the 4th quarter worth $737,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 3.3 %

Shares of MTB stock opened at $179.86 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $180.19. The firm has a market capitalization of $30.01 billion, a PE ratio of 12.16, a P/E/G ratio of 3.32 and a beta of 0.76. The stock’s 50-day simple moving average is $166.98 and its 200-day simple moving average is $153.16.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company earned $5.12 EPS. Equities analysts expect that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Announces Dividend

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 given a dividend of $1.35 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Citigroup lifted their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. DA Davidson increased their target price on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Morgan Stanley lifted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $175.85.

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.