M&T Bank Co. (NYSE:MTB) Shares Sold by Meag Munich Ergo Kapitalanlagegesellschaft MBH

Meag Munich Ergo Kapitalanlagegesellschaft MBH lessened its stake in shares of M&T Bank Co. (NYSE:MTB) by 21.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,024 shares of the financial services provider’s stock after selling 2,165 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in M&T Bank were worth $1,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of M&T Bank by 2.3% during the fourth quarter. BlackRock Inc. now owns 10,220,602 shares of the financial services provider’s stock worth $1,462,876,000 after acquiring an additional 234,015 shares in the last quarter. FMR LLC grew its position in M&T Bank by 74.1% in the 4th quarter. FMR LLC now owns 5,947,002 shares of the financial services provider’s stock worth $851,195,000 after purchasing an additional 2,532,038 shares in the last quarter. JPMorgan Chase & Co. grew its position in M&T Bank by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,761,927 shares of the financial services provider’s stock worth $948,067,000 after purchasing an additional 43,529 shares in the last quarter. Geode Capital Management LLC grew its position in M&T Bank by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock worth $287,704,000 after purchasing an additional 95,142 shares in the last quarter. Finally, Northern Trust Corp grew its position in M&T Bank by 1.4% in the 4th quarter. Northern Trust Corp now owns 1,500,637 shares of the financial services provider’s stock worth $214,785,000 after purchasing an additional 21,031 shares in the last quarter. 82.10% of the stock is currently owned by hedge funds and other institutional investors.

In other M&T Bank news, VP Michele D. Trolli sold 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.14, for a total value of $865,700.00. Following the sale, the vice president now owns 10,878 shares of the company’s stock, valued at approximately $1,883,416.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary N. Geisel sold 1,001 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.00, for a total transaction of $173,173.00. Following the completion of the sale, the director now directly owns 17,512 shares in the company, valued at approximately $3,029,576. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,221 shares of company stock worth $2,259,658. 0.54% of the stock is owned by insiders.

Shares of M&T Bank stock traded down $0.66 on Wednesday, hitting $165.64. 431,445 shares of the company traded hands, compared to its average volume of 829,478. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $22.72 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.49 and a beta of 1.08. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $183.71.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.30 by $0.05. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. During the same quarter last year, the company posted $2.23 EPS. On average, analysts predict that M&T Bank Co. will post 14.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, May 31st. M&T Bank’s dividend payout ratio is currently 31.10%.

A number of brokerages have issued reports on MTB. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Barclays increased their target price on shares of M&T Bank from $207.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. UBS Group set a $169.00 target price on shares of M&T Bank and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Finally, Citigroup increased their target price on shares of M&T Bank from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $179.25.

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M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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