M&T Bank Co. (NYSE:MTB) Position Boosted by Barclays PLC

Barclays PLC grew its position in M&T Bank Co. (NYSE:MTB - Free Report) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 578,266 shares of the financial services provider's stock after buying an additional 61,375 shares during the quarter. Barclays PLC owned 0.35% of M&T Bank worth $102,999,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. FMR LLC raised its position 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 valued at $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp increased its stake in M&T Bank by 6.4% during the third 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 last quarter. Marshall Wace LLP raised its holdings in shares of M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider's stock worth $102,432,000 after purchasing an additional 472,997 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider's stock valued at $110,993,000 after purchasing an additional 319,051 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of M&T Bank during the 3rd quarter worth about $44,422,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Stock Down 1.0 %

NYSE:MTB traded down $2.07 during mid-day trading on Thursday, reaching $199.90. The stock had a trading volume of 1,714,724 shares, compared to its average volume of 1,040,342. The stock's 50 day simple moving average is $202.08 and its two-hundred day simple moving average is $175.20. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The company has a market capitalization of $33.17 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. Equities analysts anticipate that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Monday, December 2nd. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research note on Friday, November 15th. Finally, Barclays boosted their price target on M&T Bank from $170.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, M&T Bank presently has an average rating of "Hold" and a consensus target price of $211.58.

Insider Activity at M&T Bank

In other M&T Bank 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 value of $4,473,005.48. Following the sale, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John R. Taylor sold 1,436 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares of the company's stock, valued at $1,095,678.54. This represents a 20.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock valued at $17,211,278 in the last quarter. Insiders own 0.82% of the company's stock.

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.