Toronto Dominion Bank lifted its stake in shares of M&T Bank Corporation (NYSE:MTB) by 24.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,585 shares of the bank’s stock after purchasing an additional 10,432 shares during the period. Toronto Dominion Bank’s holdings in M&T Bank Corporation were worth $8,515,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new position in M&T Bank Corporation in the 1st quarter worth approximately $101,000. Dupont Capital Management Corp bought a new position in M&T Bank Corporation in the 2nd quarter worth approximately $140,000. QCI Asset Management Inc. NY boosted its holdings in M&T Bank Corporation by 0.3% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock worth $171,000 after buying an additional 3 shares during the period. Sun Life Financial INC boosted its holdings in M&T Bank Corporation by 8,576.9% in the 2nd quarter. Sun Life Financial INC now owns 1,128 shares of the bank’s stock valued at $183,000 after purchasing an additional 1,115 shares during the period. Finally, Mosaic Family Wealth LLC boosted its holdings in M&T Bank Corporation by 5.3% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock valued at $198,000 after purchasing an additional 62 shares during the period. Institutional investors own 78.37% of the company’s stock.
In other M&T Bank Corporation news, VP Michele D. Trolli sold 8,908 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $164.25, for a total value of $1,463,139.00. Following the completion of the transaction, the vice president now owns 23,091 shares in the company, valued at $3,792,696.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sabeth Siddique sold 950 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $147.17, for a total value of $139,811.50. Following the completion of the transaction, the insider now owns 1,488 shares of the company’s stock, valued at approximately $218,988.96. The disclosure for this sale can be found here. Insiders sold 11,058 shares of company stock valued at $1,799,055 over the last three months. Corporate insiders own 3.18% of the company’s stock.
MTB has been the topic of several research reports. Instinet lowered their price objective on shares of M&T Bank Corporation from $148.00 to $144.00 and set a “neutral” rating on the stock in a research report on Friday, June 30th. Zacks Investment Research cut shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Morgan Stanley restated an “equal weight” rating and issued a $155.00 price objective (up previously from $152.00) on shares of M&T Bank Corporation in a research report on Friday, July 7th. Finally, Jefferies Group LLC upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $174.00 to $186.00 in a research report on Tuesday, July 11th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. M&T Bank Corporation presently has an average rating of “Hold” and an average price target of $161.89.
M&T Bank Corporation (NYSE:MTB) remained flat at $167.60 on Friday. The stock had a trading volume of 173,016 shares. The company’s 50-day moving average is $157.41 and its 200 day moving average is $158.31. The firm has a market cap of $25.46 billion, a PE ratio of 19.62 and a beta of 0.78. M&T Bank Corporation has a 52 week low of $120.09 and a 52 week high of $173.72.
M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings results on Wednesday, October 18th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. M&T Bank Corporation had a return on equity of 9.52% and a net margin of 23.97%. During the same quarter last year, the company earned $2.10 earnings per share. On average, analysts forecast that M&T Bank Corporation will post $9.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, August 30th. M&T Bank Corporation’s dividend payout ratio (DPR) is 34.64%.
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M&T Bank Corporation Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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