13,933 M&T Bank Corporation $MTB Shares Acquired by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its M&T Bank stake by 346.4% in the third quarter, acquiring 13,933 shares and bringing its holdings to 17,955 shares worth approximately $3.91 million.
• Institutional investors own 84.68% of M&T Bank, while company insiders sold 20,028 shares worth roughly $4.79 million during the latest quarter.
• M&T Bank beat quarterly earnings expectations, reporting $5.08 in adjusted EPS versus the $4.93 consensus and $2.54 billion in revenue. Analysts maintain an overall “Hold” rating, with an average price target of $247.12, and the company pays a $1.50 quarterly dividend.

Robeco Institutional Asset Management B.V. increased its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 346.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,955 shares of the financial services provider's stock after purchasing an additional 13,933 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in M&T Bank were worth $3,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MTB. Bogart Wealth LLC increased its holdings in M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock valued at $25,000 after buying an additional 84 shares during the period. First Bancorp Inc ME acquired a new position in shares of M&T Bank in the 2nd quarter valued at approximately $25,000. FNY Investment Advisers LLC bought a new stake in shares of M&T Bank during the 2nd quarter worth approximately $51,000. NBH Bank bought a new stake in shares of M&T Bank during the 2nd quarter worth approximately $51,000. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of M&T Bank by 153.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 276 shares of the financial services provider's stock worth $60,000 after acquiring an additional 167 shares during the period. Institutional investors own 84.68% of the company's stock.

Insider Activity at M&T Bank

In other M&T Bank news, CEO René Jones sold 19,396 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the completion of the sale, the chief executive officer owned 103,831 shares of the company's stock, valued at approximately $24,851,949.85. This represents a 15.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the sale, the director directly owned 3,649 shares of the company's stock, valued at $879,554.96. This represents a 14.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,028 shares of company stock worth $4,794,884 over the last quarter. 0.44% of the stock is currently owned by company insiders.

M&T Bank Stock Up 0.0%

Shares of MTB opened at $221.68 on Monday. The stock's 50-day moving average price is $228.61 and its two-hundred day moving average price is $229.05. M&T Bank Corporation has a 12 month low of $179.32 and a 12 month high of $255.95. The company has a market capitalization of $32.02 billion, a PE ratio of 11.57, a PEG ratio of 1.28 and a beta of 0.61. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.54.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Friday, October 16th. The financial services provider reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.15. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. The company had revenue of $2.54 billion during the quarter, compared to analysts' expectations of $2.53 billion. During the same quarter in the prior year, the firm posted $4.82 earnings per share. On average, analysts anticipate that M&T Bank Corporation will post 19.48 EPS for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were issued a $1.50 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $6.00 annualized dividend and a yield of 2.7%. M&T Bank's dividend payout ratio is presently 31.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore set a $230.00 price target on M&T Bank in a report on Thursday, October 1st. Cantor Fitzgerald dropped their price objective on M&T Bank from $285.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, October 14th. Royal Bank Of Canada reduced their price objective on M&T Bank from $255.00 to $245.00 and set an "outperform" rating on the stock in a research note on Monday, October 19th. DA Davidson reduced their price objective on M&T Bank from $262.00 to $258.00 and set a "neutral" rating on the stock in a research note on Monday, October 19th. Finally, Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $247.12.

M&T Bank Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company's offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.

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