Czech National Bank Acquires 2,134 Shares of M&T Bank Co. (NYSE:MTB)

Czech National Bank increased its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,109 shares of the financial services provider's stock after buying an additional 2,134 shares during the quarter. Czech National Bank's holdings in M&T Bank were worth $6,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTB. Robeco Institutional Asset Management B.V. raised its stake in shares of M&T Bank by 25.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 14,213 shares of the financial services provider's stock worth $2,672,000 after purchasing an additional 2,872 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in M&T Bank by 3.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,437 shares of the financial services provider's stock valued at $834,000 after acquiring an additional 158 shares during the last quarter. Spire Wealth Management acquired a new position in shares of M&T Bank during the 4th quarter worth about $123,000. Greenleaf Trust raised its holdings in shares of M&T Bank by 3.8% in the 4th quarter. Greenleaf Trust now owns 2,502 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 92 shares during the period. Finally, Catalina Capital Group LLC lifted its stake in M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock valued at $531,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Price Performance

MTB traded down $0.08 during trading on Thursday, hitting $179.79. 852,084 shares of the stock traded hands, compared to its average volume of 1,156,829. The business has a 50 day moving average price of $172.50 and a 200 day moving average price of $187.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70. The company has a market cap of $28.86 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.38 and a beta of 0.58.

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 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $3.09 EPS. Equities research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.00%. The ex-dividend date is Monday, June 2nd. M&T Bank's payout ratio is 36.17%.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

MTB has been the subject of several research analyst reports. Barclays reduced their target price on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. TD Cowen assumed coverage on shares of M&T Bank in a research report on Thursday, May 15th. They set a "buy" rating and a $230.00 price objective for the company. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price objective on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, Robert W. Baird reduced their target price on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.53.

About M&T Bank

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.