Smead Capital Management Inc. Purchases 16,657 Shares of M&T Bank Co. (NYSE:MTB)

Smead Capital Management Inc. lifted its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 493,817 shares of the financial services provider's stock after acquiring an additional 16,657 shares during the period. M&T Bank makes up approximately 1.3% of Smead Capital Management Inc.'s portfolio, making the stock its 26th largest position. Smead Capital Management Inc. owned approximately 0.30% of M&T Bank worth $87,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in shares of M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider's stock valued at $269,696,000 after acquiring an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP grew its position in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider's stock worth $244,129,000 after purchasing an additional 93,113 shares during the period. Bank of New York Mellon Corp grew its position in M&T Bank by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider's stock worth $229,076,000 after purchasing an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider's stock worth $211,631,000 after purchasing an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in 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 worth $110,993,000 after purchasing an additional 319,051 shares during the period. Institutional investors own 84.68% of the company's stock.

Insider Transactions at M&T Bank

In other news, EVP Michael J. Todaro sold 4,786 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total value of $1,024,682.60. Following the sale, the executive vice president now directly owns 2,787 shares in the company, valued at $596,696.70. The trade was a 63.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold a total of 70,383 shares of company stock worth $13,576,801 in the last three months. Insiders own 0.82% of the company's stock.

M&T Bank Price Performance

MTB stock traded down $1.11 during mid-day trading on Tuesday, hitting $213.71. The company had a trading volume of 552,190 shares, compared to its average volume of 1,043,967. The company has a market capitalization of $35.46 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 3.02 and a beta of 0.74. M&T Bank Co. has a 12-month low of $123.46 and a 12-month high of $216.84. 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 has a 50-day moving average price of $188.96 and a 200 day moving average price of $168.32.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, research analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.53%. M&T Bank's payout ratio is currently 39.97%.

Analysts Set New Price Targets

MTB has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a research report on Friday. DA Davidson lifted their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a "neutral" rating in a research note on Monday, October 21st. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $190.00 to $216.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Barclays lifted their price target on shares of M&T Bank from $170.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of "Hold" and an average target price of $199.65.

M&T Bank Company 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.