M&T Bank Co. (NYSE:MTB) Shares Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board boosted its stake in shares of M&T Bank Co. (NYSE:MTB) by 43.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 12,423 shares of the financial services provider’s stock after acquiring an additional 3,739 shares during the period. Ontario Teachers Pension Plan Board’s holdings in M&T Bank were worth $1,807,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MTB. Leuthold Group LLC purchased a new stake in shares of M&T Bank during the first quarter worth $3,125,000. Stevens Capital Management LP purchased a new stake in shares of M&T Bank during the fourth quarter worth $320,000. Matrix Asset Advisors Inc. NY grew its holdings in shares of M&T Bank by 15.7% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after buying an additional 12,590 shares in the last quarter. Smead Capital Management Inc. purchased a new stake in shares of M&T Bank during the fourth quarter worth $59,418,000. Finally, Rafferty Asset Management LLC grew its holdings in shares of M&T Bank by 72.1% during the fourth quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock worth $32,890,000 after buying an additional 100,526 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MTB shares. Evercore ISI upped their price objective on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday. DA Davidson upped their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday. Bank of America upped their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a report on Monday. Finally, Citigroup upped their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average target price of $170.17.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the sale, the director now owns 34,545 shares of the company’s stock, valued at $5,081,914.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, Director John P. Barnes sold 13,360 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.00, for a total value of $1,963,920.00. Following the transaction, the director now directly owns 35,480 shares in the company, valued at $5,215,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Barnes sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the transaction, the director now owns 34,545 shares in the company, valued at $5,081,914.95. The disclosure for this sale can be found here. Insiders have sold a total of 95,915 shares of company stock valued at $14,497,759 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

M&T Bank Stock Up 0.9 %

Shares of MTB traded up $1.58 during mid-day trading on Tuesday, hitting $172.45. 89,886 shares of the company’s stock were exchanged, compared to its average volume of 1,035,138. The company has a market cap of $28.77 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 3.85 and a beta of 0.77. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $175.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The stock’s 50-day moving average is $150.83 and its 200-day moving average is $144.07.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the prior year, the company earned $5.12 earnings per share. On average, sell-side analysts anticipate that M&T Bank Co. will post 13.95 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $1.35 dividend. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.13%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

M&T Bank Profile

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.