Sentry Investment Management LLC lowered its position in M&T Bank Co. (NYSE:MTB) by 16.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,031 shares of the financial services provider’s stock after selling 1,535 shares during the quarter. Sentry Investment Management LLC’s holdings in M&T Bank were worth $1,373,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Strs Ohio lifted its holdings in M&T Bank by 2.7% in the 4th quarter. Strs Ohio now owns 12,987 shares of the financial services provider’s stock worth $2,220,000 after buying an additional 341 shares in the last quarter. Sky Investment Group LLC lifted its holdings in M&T Bank by 1.5% in the 3rd quarter. Sky Investment Group LLC now owns 26,560 shares of the financial services provider’s stock worth $4,277,000 after buying an additional 395 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in M&T Bank by 3.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 11,891 shares of the financial services provider’s stock worth $2,033,000 after buying an additional 417 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in M&T Bank by 1.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 40,476 shares of the financial services provider’s stock worth $6,518,000 after buying an additional 482 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in M&T Bank by 1.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 27,187 shares of the financial services provider’s stock worth $4,397,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 77.47% of the company’s stock.

Shares of M&T Bank Co. (MTB) opened at $186.15 on Wednesday. The firm has a market cap of $27,807.72, a PE ratio of 21.42, a PEG ratio of 1.18 and a beta of 0.91. M&T Bank Co. has a 1 year low of $141.12 and a 1 year high of $193.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.05.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 18th. The financial services provider reported $2.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.26. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. M&T Bank had a net margin of 23.40% and a return on equity of 10.12%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 EPS. equities research analysts forecast that M&T Bank Co. will post 12.17 earnings per share for the current fiscal year.

M&T Bank announced that its Board of Directors has authorized a share repurchase plan on Monday, February 5th that allows the company to buyback $745.00 million in shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

In related news, insider Michael J. Todaro sold 1,025 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $190.39, for a total transaction of $195,149.75. Following the completion of the sale, the insider now owns 814 shares of the company’s stock, valued at approximately $154,977.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael J. Todaro sold 672 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $188.56, for a total transaction of $126,712.32. Following the sale, the insider now directly owns 814 shares of the company’s stock, valued at approximately $153,487.84. The disclosure for this sale can be found here. In the last three months, insiders bought 24,000 shares of company stock valued at $2,310 and sold 92,427 shares valued at $17,033,174. 3.18% of the stock is currently owned by insiders.

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of M&T Bank in a report on Tuesday, February 6th. Wedbush reiterated a “neutral” rating and issued a $186.00 price objective (up previously from $180.00) on shares of M&T Bank in a report on Tuesday, February 6th. Zacks Investment Research upgraded shares of M&T Bank from a “hold” rating to a “strong-buy” rating and set a $217.00 price objective on the stock in a report on Wednesday, January 24th. Royal Bank of Canada reiterated a “buy” rating on shares of M&T Bank in a report on Friday, January 19th. Finally, Piper Jaffray Companies reiterated a “neutral” rating on shares of M&T Bank in a report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. M&T Bank presently has an average rating of “Hold” and a consensus price target of $176.12.

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

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