Mutual of America Capital Management LLC Raises Stock Position in M&T Bank Co. (NYSE:MTB)

Mutual of America Capital Management LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,303 shares of the financial services provider’s stock after acquiring an additional 551 shares during the quarter. Mutual of America Capital Management LLC’s holdings in M&T Bank were worth $5,798,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MTB. Citizens Financial Group Inc. RI raised its holdings in M&T Bank by 6.7% during the second quarter. Citizens Financial Group Inc. RI now owns 1,474 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 92 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after buying an additional 93,113 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after buying an additional 81,004 shares in the last quarter. Element Capital Management LLC acquired a new stake in M&T Bank in the 2nd quarter valued at about $10,160,000. Finally, Envestnet Asset Management Inc. increased its holdings in M&T Bank by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 241,213 shares of the financial services provider’s stock valued at $36,510,000 after acquiring an additional 13,278 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction 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 transaction, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value 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. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 over the last ninety days. 0.82% of the stock is owned by company insiders.

M&T Bank Trading Down 0.2 %

Shares of MTB opened at $179.56 on Friday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $180.25. The firm has a market capitalization of $29.96 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $167.47 and its 200 day simple moving average is $153.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $5.12 EPS. On average, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. DA Davidson increased their price target 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. Bank of America raised their price target on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley upped their price objective on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $175.85.

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.