Forsta AP Fonden Has $4.81 Million Position in M&T Bank Co. (NYSE:MTB)

Forsta AP Fonden increased its position in shares of M&T Bank Co. (NYSE:MTB) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,800 shares of the financial services provider’s stock after purchasing an additional 1,200 shares during the period. Forsta AP Fonden’s holdings in M&T Bank were worth $4,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. General Partner Inc. acquired a new stake in M&T Bank during the 1st quarter worth approximately $27,000. Fidelis Capital Partners LLC acquired a new position in M&T Bank in the 1st quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in M&T Bank in the 2nd quarter valued at $35,000. Principal Securities Inc. acquired a new position in M&T Bank in the 4th quarter valued at $34,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in M&T Bank by 677.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 359 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, 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 value of $172,230.00. Following the sale, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,699 shares of company stock worth $5,115,349. Insiders own 0.82% of the company’s stock.

M&T Bank Trading Up 1.9 %

Shares of MTB stock opened at $168.88 on Friday. The stock’s fifty day simple moving average is $165.07 and its 200 day simple moving average is $152.23. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $176.44. The firm has a market capitalization of $28.18 billion, a P/E ratio of 11.42, a P/E/G ratio of 3.32 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating 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 firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the company posted $5.12 EPS. As a group, sell-side analysts predict that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business 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 $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.20%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Analyst Upgrades and Downgrades

MTB has been the subject of several analyst reports. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $170.00 to $165.00 in a report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Jefferies Financial Group boosted their price target on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has a consensus 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.