National Pension Service Purchases 13,302 Shares of M&T Bank Co. (NYSE:MTB)

National Pension Service increased its position in M&T Bank Co. (NYSE:MTB - Free Report) by 5.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 268,138 shares of the financial services provider's stock after purchasing an additional 13,302 shares during the period. National Pension Service owned 0.16% of M&T Bank worth $47,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTB. Fidelis Capital Partners LLC acquired a new position in shares of M&T Bank in the 1st quarter valued at about $30,000. Nordea Investment Management AB boosted its position in M&T Bank by 3.7% during the 1st quarter. Nordea Investment Management AB now owns 12,867 shares of the financial services provider's stock valued at $1,875,000 after purchasing an additional 460 shares during the period. Mutual of America Capital Management LLC grew its stake in M&T Bank by 1.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 37,752 shares of the financial services provider's stock worth $5,491,000 after buying an additional 378 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of M&T Bank by 16.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,664 shares of the financial services provider's stock worth $533,000 after acquiring an additional 523 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in M&T Bank in the 1st quarter valued at about $613,000. 84.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total value of $396,000.00. Following the completion of the sale, the director now owns 29,796 shares in the company, valued at approximately $5,899,608. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Vice Chairman Kevin J. Pearson sold 6,095 shares of M&T Bank stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the sale, the insider now directly owns 47,944 shares in the company, valued at approximately $7,780,352.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the transaction, the director now directly owns 29,796 shares of the company's stock, valued at $5,899,608. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,734 shares of company stock worth $14,055,727 in the last ninety days. Insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. DA Davidson lifted their price target on M&T Bank from $192.00 to $207.00 and gave the company a "neutral" rating in a report on Monday, October 21st. Morgan Stanley increased their price objective on M&T Bank from $195.00 to $220.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. The Goldman Sachs Group upped their target price on M&T Bank from $190.00 to $216.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Barclays increased their price objective on M&T Bank from $170.00 to $228.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Finally, Evercore ISI boosted their target price on M&T Bank from $210.00 to $232.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, M&T Bank currently has a consensus rating of "Hold" and a consensus price target of $198.76.

M&T Bank Stock Performance

NYSE:MTB traded down $8.42 during mid-day trading on Thursday, hitting $208.14. 1,151,096 shares of the company's stock traded hands, compared to its average volume of 1,048,536. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $181.20 and a two-hundred day moving average of $163.98. The firm has a market capitalization of $34.73 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74. M&T Bank Co. has a 12 month low of $115.93 and a 12 month high of $216.84.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Tuesday, September 3rd. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

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.