M&T Bank Co. (MTB) Position Reduced by Marshall Wace North America L.P.

Marshall Wace North America L.P. lowered its position in M&T Bank Co. (NYSE:MTB) by 48.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,109 shares of the financial services provider’s stock after selling 102,099 shares during the period. Marshall Wace North America L.P. owned about 0.08% of M&T Bank worth $17,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Focused Wealth Management Inc acquired a new stake in M&T Bank in the third quarter valued at about $102,000. Amica Retiree Medical Trust acquired a new stake in M&T Bank in the third quarter valued at about $108,000. Sageworth Trust Co lifted its position in M&T Bank by 220.0% in the third quarter. Sageworth Trust Co now owns 800 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 550 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in M&T Bank by 8,330.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 843 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 833 shares during the period. Finally, NEXT Financial Group Inc acquired a new stake in M&T Bank in the third quarter valued at about $165,000. Hedge funds and other institutional investors own 80.67% of the company’s stock.

Shares of M&T Bank stock opened at $157.87 on Friday. M&T Bank Co. has a 12-month low of $154.33 and a 12-month high of $197.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $22.64 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.02 and a beta of 0.86.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, October 17th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.35 by $0.18. M&T Bank had a net margin of 26.84% and a return on equity of 13.15%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company posted $2.21 earnings per share. As a group, sell-side analysts predict that M&T Bank Co. will post 13.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 3rd will be issued a $1.00 dividend. The ex-dividend date is Friday, November 30th. This represents a $4.00 dividend on an annualized basis and a yield of 2.53%. M&T Bank’s dividend payout ratio (DPR) is presently 42.78%.

In other news, EVP Robert J. Bojdak sold 934 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $164.50, for a total transaction of $153,643.00. Following the completion of the transaction, the executive vice president now directly owns 19,567 shares of the company’s stock, valued at approximately $3,218,771.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard H. Jr. Ledgett sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $168.40, for a total transaction of $84,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,164 shares of company stock valued at $524,899. 0.48% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on MTB. Wedbush set a $188.00 price objective on shares of M&T Bank and gave the company a “hold” rating in a research report on Thursday, October 18th. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating in a research report on Monday, October 1st. They noted that the move was a valuation call. Robert W. Baird upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating in a research report on Tuesday, October 23rd. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Finally, Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $184.36.

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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 retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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

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