National Bank of Canada FI Has $21.26 Million Stake in M&T Bank Co. (NYSE:MTB)

National Bank of Canada FI trimmed its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 12.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,366 shares of the financial services provider's stock after selling 16,489 shares during the period. National Bank of Canada FI owned 0.07% of M&T Bank worth $21,261,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Plato Investment Management Ltd grew its stake in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in M&T Bank in the third quarter worth about $32,000. Hexagon Capital Partners LLC increased its stake in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 158 shares during the period. Finally, Oakworth Capital Inc. bought a new stake in shares of M&T Bank in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Stock Up 0.1 %

Shares of NYSE:MTB traded up $0.26 during trading hours on Tuesday, reaching $206.99. The stock had a trading volume of 938,483 shares, compared to its average volume of 1,033,607. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The firm's 50 day moving average is $200.82 and its 200-day moving average is $174.61. The stock has a market capitalization of $34.34 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 2.96 and a beta of 0.76. M&T Bank Co. has a 1 year low of $128.31 and a 1 year high of $225.70.

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

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.35 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.61%. M&T Bank's dividend payout ratio (DPR) is 39.97%.

Insider Transactions at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now owns 5,141 shares of the company's stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock worth $17,211,278 over the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MTB has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Royal Bank of Canada increased their price objective on M&T Bank from $190.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, October 18th. Barclays increased 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. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Citigroup cut shares of M&T Bank from a "buy" rating to a "neutral" rating and upped their price target for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $211.58.

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.