American Century Companies Inc. Buys 4,067 Shares of M&T Bank Co. (NYSE:MTB)

American Century Companies Inc. raised its position in M&T Bank Co. (NYSE:MTB) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,818 shares of the financial services provider’s stock after buying an additional 4,067 shares during the period. American Century Companies Inc.’s holdings in M&T Bank were worth $9,357,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Daiwa Securities Group Inc. increased its stake in shares of M&T Bank by 11.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 18,251 shares of the financial services provider’s stock worth $2,762,000 after purchasing an additional 1,841 shares during the last quarter. Bright Futures Wealth Management LLC. lifted its stake in M&T Bank by 4.4% during the second quarter. Bright Futures Wealth Management LLC. now owns 15,109 shares of the financial services provider’s stock worth $2,452,000 after purchasing an additional 640 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in M&T Bank by 3.9% in the second quarter. Royal London Asset Management Ltd. now owns 66,114 shares of the financial services provider’s stock worth $10,007,000 after buying an additional 2,506 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of M&T Bank in the 2nd quarter valued at $210,000. Finally, Choreo LLC purchased a new stake in M&T Bank during the second quarter valued at about $460,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their price target on M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Bank of America lifted their price target on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Evercore ISI upped their target price on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, Citigroup upped their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $175.85.

M&T Bank Trading Down 0.2 %

Shares of M&T Bank stock opened at $179.56 on Monday. The company has a market capitalization of $29.96 billion, a P/E ratio of 12.14, a P/E/G ratio of 3.32 and a beta of 0.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day moving average of $167.47 and a 200 day moving average of $153.59. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $180.25.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $5.12 EPS. On average, sell-side analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

Insider Activity

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Denis J. Salamone sold 10,000 shares of the company’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 sale, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank 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.