Benin Management CORP cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 18.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,480 shares of the financial services provider’s stock after selling 325 shares during the quarter. Benin Management CORP’s holdings in M&T Bank were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in MTB. North Star Investment Management Corp. bought a new stake in shares of M&T Bank during the 3rd quarter valued at approximately $32,000. Webster Bank N. A. bought a new stake in M&T Bank during the 2nd quarter worth approximately $43,000. HM Payson & Co. bought a new stake in M&T Bank during the 2nd quarter worth approximately $51,000. CSat Investment Advisory L.P. grew its holdings in M&T Bank by 305.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 304 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 229 shares during the last quarter. Finally, CX Institutional grew its holdings in M&T Bank by 24.8% during the 2nd quarter. CX Institutional now owns 372 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 74 shares during the last quarter. 82.00% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on MTB. Jefferies Financial Group lowered shares of M&T Bank from a “buy” rating to a “hold” rating and reduced their target price for the stock from $185.00 to $167.00 in a report on Tuesday, October 8th. Odeon Capital Group began coverage on shares of M&T Bank in a report on Friday, September 27th. They set a “hold” rating on the stock. Macquarie set a $158.00 target price on shares of M&T Bank and gave the stock a “sell” rating in a report on Friday, July 19th. Zacks Investment Research lowered shares of M&T Bank from a “hold” rating to a “sell” rating and set a $166.00 target price on the stock. in a report on Wednesday, September 18th. Finally, UBS Group reduced their target price on shares of M&T Bank from $164.00 to $161.00 and set a “neutral” rating on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $167.83.

In other news, EVP William J. Farrell II sold 3,070 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $163.82, for a total value of $502,927.40. Following the transaction, the executive vice president now owns 10,774 shares in the company, valued at approximately $1,764,996.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Todaro purchased 186 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $144.84 per share, for a total transaction of $26,940.24. The disclosure for this purchase can be found here. Insiders sold a total of 4,828 shares of company stock worth $770,668 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

MTB traded up $2.40 during trading on Tuesday, reaching $156.44. 19,450 shares of the company’s stock were exchanged, compared to its average volume of 615,073. The stock has a market capitalization of $20.35 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.23 and a beta of 1.10. M&T Bank Co. has a one year low of $133.78 and a one year high of $176.11. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $154.01 and a two-hundred day moving average price of $160.87.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.59 by ($0.12). The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. During the same quarter last year, the firm posted $3.53 EPS. Sell-side analysts expect that M&T Bank Co. will post 13.79 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $1.00 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.56%. M&T Bank’s dividend payout ratio (DPR) is currently 31.10%.

M&T Bank Company 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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