Integrated Wealth Concepts LLC Boosts Position in M&T Bank Co. (NYSE:MTB)

Integrated Wealth Concepts LLC lifted its position in M&T Bank Co. (NYSE:MTB - Free Report) by 41.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,679 shares of the financial services provider's stock after purchasing an additional 2,815 shares during the quarter. Integrated Wealth Concepts LLC's holdings in M&T Bank were worth $1,724,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MTB. FMR LLC lifted its position in M&T Bank by 13.9% during 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 purchasing an additional 1,508,846 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider's stock valued at $897,216,000 after buying an additional 190,837 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider's stock worth $269,696,000 after acquiring an additional 81,004 shares during the last quarter. Dimensional Fund Advisors LP grew its position in M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider's stock worth $244,129,000 after acquiring an additional 93,113 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider's stock valued at $229,076,000 after acquiring an additional 44,442 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

Insider Buying and Selling at M&T Bank

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MTB shares. Bank of America upped their price objective on M&T Bank from $188.00 to $218.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Wolfe Research raised M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Friday, October 4th. Barclays boosted their target price on M&T Bank from $170.00 to $228.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price target on M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, M&T Bank has an average rating of "Hold" and an average target price of $209.32.

M&T Bank Trading Down 0.5 %

Shares of MTB traded down $1.16 during trading hours on Friday, reaching $211.26. 789,697 shares of the company traded hands, compared to its average volume of 842,760. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The company's fifty day moving average price is $200.25 and its two-hundred day moving average price is $174.21. The company has a market capitalization of $35.05 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 2.98 and a beta of 0.76.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.30 billion. Equities research analysts predict that M&T Bank Co. will post 14.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.56%. M&T Bank's payout ratio is 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.