Assenagon Asset Management S.A. Has $27.67 Million Stake in M&T Bank Co. (NYSE:MTB)

Assenagon Asset Management S.A. increased its stake in M&T Bank Co. (NYSE:MTB) by 314.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 147,177 shares of the financial services provider’s stock after purchasing an additional 111,628 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.09% of M&T Bank worth $27,671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp raised its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after acquiring an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after acquiring an additional 190,837 shares during the period. Geode Capital Management LLC lifted its position in M&T Bank by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after acquiring an additional 66,337 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at $14,972,576.88. This trade represents a 23.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the transaction, the director now owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. The trade was a 28.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock valued at $17,211,278 in the last ninety days. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MTB. DA Davidson lifted their price objective on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 price target (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Compass Point increased their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wedbush boosted their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company increased their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $216.86.

M&T Bank Trading Down 2.3 %

MTB stock opened at $196.16 on Friday. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $202.90 and its 200-day moving average is $183.07. The firm has a market cap of $32.55 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same period in the previous year, the business earned $2.74 EPS. Equities analysts anticipate that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.