Nuance Investments LLC lessened its stake in M&T Bank Co. (NYSE:MTB) by 89.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,879 shares of the financial services provider’s stock after selling 191,522 shares during the quarter. Nuance Investments LLC’s holdings in M&T Bank were worth $3,912,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio boosted its holdings in shares of M&T Bank by 2.7% in the fourth quarter. Strs Ohio now owns 12,987 shares of the financial services provider’s stock valued at $2,220,000 after buying an additional 341 shares during the period. Sky Investment Group LLC boosted its holdings in shares of M&T Bank by 1.5% in the third quarter. Sky Investment Group LLC now owns 26,560 shares of the financial services provider’s stock valued at $4,277,000 after buying an additional 395 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of M&T Bank by 3.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 11,891 shares of the financial services provider’s stock valued at $2,033,000 after buying an additional 417 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of M&T Bank by 1.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 40,476 shares of the financial services provider’s stock valued at $6,518,000 after buying an additional 482 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of M&T Bank by 1.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 27,187 shares of the financial services provider’s stock valued at $4,397,000 after buying an additional 500 shares during the period. Institutional investors own 77.47% of the company’s stock.

A number of analysts have recently commented on MTB shares. Robert W. Baird reissued a “sell” rating and issued a $145.00 price objective on shares of M&T Bank in a research report on Friday, October 20th. Nomura boosted their price objective on shares of M&T Bank from $145.00 to $162.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. UBS Group raised shares of M&T Bank from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $150.00 to $173.00 in a research report on Tuesday, December 12th. Morgan Stanley reissued an “equal weight” rating and issued a $180.00 price objective on shares of M&T Bank in a research report on Thursday, December 14th. Finally, Wells Fargo & Co set a $180.00 price objective on shares of M&T Bank and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $176.12.

In other news, VP Michael R. Spychala sold 13,417 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $170.92, for a total value of $2,293,233.64. Following the transaction, the vice president now directly owns 51,622 shares of the company’s stock, valued at $8,823,232.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total transaction of $171,190.00. Following the completion of the transaction, the director now directly owns 52,049 shares in the company, valued at $8,910,268.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 24,000 shares of company stock worth $2,310 and have sold 92,427 shares worth $17,033,174. Corporate insiders own 3.18% of the company’s stock.

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

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

M&T Bank declared that its Board of Directors has authorized a stock buyback plan on Monday, February 5th that authorizes the company to repurchase $745.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

WARNING: “M&T Bank Co. (MTB) Shares Sold by Nuance Investments LLC” was originally published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://theolympiareport.com/2018/02/14/mt-bank-co-mtb-shares-sold-by-nuance-investments-llc.html.

M&T Bank Company 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.

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTB).

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

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.