Healthcare of Ontario Pension Plan Trust Fund Has $8.20 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in M&T Bank Co. (NYSE:MTB) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,160 shares of the financial services provider’s stock after selling 500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in M&T Bank were worth $8,198,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MTB. Ontario Teachers Pension Plan Board increased its holdings in shares of M&T Bank by 43.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after buying an additional 3,739 shares in the last quarter. Leuthold Group LLC acquired a new stake in shares of M&T Bank in the first quarter valued at approximately $3,125,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of M&T Bank by 7.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after purchasing an additional 35,692 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of M&T Bank by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after purchasing an additional 18,566 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $6,438,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 in the last ninety days. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 3.7 %

M&T Bank stock opened at $178.74 on Friday. The firm has a market capitalization of $29.82 billion, a PE ratio of 12.09, a P/E/G ratio of 3.55 and a beta of 0.75. The company’s 50-day moving average is $168.84 and its 200-day moving average is $155.72. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $180.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last released its quarterly earnings data 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. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the previous year, the business earned $5.12 EPS. Sell-side analysts anticipate that M&T Bank Co. will post 14.23 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. M&T Bank’s dividend payout ratio is presently 36.51%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday. Citigroup raised their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods raised their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Wedbush raised their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Finally, DA Davidson lifted their price target on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $185.75.

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.