Mn Services Vermogensbeheer B.V. Reduces Position in M&T Bank Corporation (NYSE:MTB)

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,000 shares of the financial services provider's stock after selling 4,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in M&T Bank were worth $10,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MTB. Empowered Funds LLC grew its stake in shares of M&T Bank by 9.6% during the fourth quarter. Empowered Funds LLC now owns 3,034 shares of the financial services provider's stock worth $570,000 after acquiring an additional 267 shares during the last quarter. Van ECK Associates Corp boosted its stake in M&T Bank by 1,262.9% in the 4th quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock worth $4,169,000 after purchasing an additional 20,548 shares in the last quarter. Asset Management One Co. Ltd. grew its position in M&T Bank by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 66,145 shares of the financial services provider's stock worth $12,517,000 after purchasing an additional 460 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in M&T Bank during the 4th quarter valued at approximately $297,000. Finally, Principal Securities Inc. increased its stake in M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 132 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Price Performance

MTB traded up $3.39 on Friday, hitting $185.09. 998,576 shares of the company's stock were exchanged, compared to its average volume of 1,170,028. The firm has a 50-day moving average price of $176.15 and a 200-day moving average price of $184.49. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The stock has a market cap of $29.71 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.32 and a beta of 0.62. M&T Bank Corporation has a fifty-two week low of $145.25 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same quarter last year, the company earned $3.09 earnings per share. As a group, equities analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $1.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.92%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the completion of the transaction, the director now owns 23,070 shares in the company, valued at $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MTB. Barclays dropped their price target on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their price target on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. Robert W. Baird reduced their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Evercore ISI cut their target price on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Finally, Cowen began coverage on shares of M&T Bank in a report on Wednesday, May 14th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $210.63.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.