M&T Bank Co. (MTB) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of M&T Bank Co. (NYSE:MTB) by 45.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,197 shares of the financial services provider’s stock after buying an additional 64,911 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of M&T Bank worth $33,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MTB. Capital Research Global Investors raised its position in shares of M&T Bank by 5.7% during the 2nd quarter. Capital Research Global Investors now owns 5,620,509 shares of the financial services provider’s stock worth $910,241,000 after purchasing an additional 302,511 shares during the period. Capital World Investors raised its position in shares of M&T Bank by 5.1% during the 2nd quarter. Capital World Investors now owns 4,129,000 shares of the financial services provider’s stock worth $668,692,000 after purchasing an additional 200,000 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of M&T Bank by 0.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,172 shares of the financial services provider’s stock worth $77,116,000 after purchasing an additional 2,097 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in M&T Bank by 2.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 404,138 shares of the financial services provider’s stock valued at $65,450,000 after acquiring an additional 10,836 shares during the period. Finally, California Public Employees Retirement System increased its position in M&T Bank by 0.8% in the 2nd quarter. California Public Employees Retirement System now owns 396,774 shares of the financial services provider’s stock valued at $64,258,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 79.29% of the company’s stock.

Shares of M&T Bank Co. (NYSE MTB) traded up $1.56 during trading hours on Thursday, hitting $171.07. The stock had a trading volume of 463,754 shares, compared to its average volume of 746,246. M&T Bank Co. has a 12 month low of $141.12 and a 12 month high of $176.62. The firm has a market capitalization of $25,652.34, a P/E ratio of 19.41, a P/E/G ratio of 2.08 and a beta of 0.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. M&T Bank had a return on equity of 8.94% and a net margin of 25.13%. During the same period last year, the business earned $2.10 earnings per share. research analysts predict that M&T Bank Co. will post 9.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, November 30th. M&T Bank’s payout ratio is 34.64%.

In other news, VP Michele D. Trolli sold 9,730 shares of M&T Bank stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $167.89, for a total value of $1,633,569.70. Following the completion of the transaction, the vice president now owns 24,708 shares in the company, valued at $4,148,226.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Randolph Michael Kasum sold 800,000 shares of M&T Bank stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $0.08, for a total transaction of $64,000.00. Over the last ninety days, insiders have acquired 671,000 shares of company stock worth $55,870 and have sold 1,691,680 shares worth $2,074,471. 3.18% of the stock is currently owned by insiders.

A number of brokerages have issued reports on MTB. BidaskClub lowered M&T Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $165.00 price target (down from $171.00) on shares of M&T Bank in a research note on Saturday, September 16th. Nomura raised their price objective on M&T Bank from $144.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. ValuEngine raised M&T Bank from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research note on Tuesday, September 19th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. M&T Bank has an average rating of “Hold” and a consensus price target of $162.56.

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About M&T Bank

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.

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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