Oddo BHF Asset Management Sas Takes Position in M&T Bank Co. (NYSE:MTB)

Oddo BHF Asset Management Sas acquired a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,299 shares of the financial services provider's stock, valued at approximately $1,834,000.

Several other large investors have also bought and sold shares of MTB. Hedeker Wealth LLC boosted its position in shares of M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider's stock valued at $627,000 after purchasing an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in M&T Bank by 1.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider's stock valued at $1,005,000 after buying an additional 57 shares during the period. Crestwood Advisors Group LLC boosted its holdings in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider's stock valued at $553,000 after buying an additional 57 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 68 shares during the period. Finally, Meitav Investment House Ltd. increased its stake in shares of M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider's stock worth $386,000 after acquiring an additional 69 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

NYSE:MTB traded down $0.66 during trading hours on Friday, reaching $199.29. The company had a trading volume of 1,654,907 shares, compared to its average volume of 1,042,892. The firm has a market cap of $33.07 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 2.83 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm's 50 day moving average price is $203.04 and its 200-day moving average price is $175.70. M&T Bank Co. has a 52 week low of $128.31 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, analysts forecast that M&T Bank Co. will post 14.63 EPS for the current 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MTB shares. Compass Point boosted their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday. The Goldman Sachs Group boosted their price target on M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. DA Davidson raised their price objective on M&T Bank from $192.00 to $207.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Evercore ISI boosted their target price on M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price 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. One analyst has rated the stock with a sell rating, ten 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 currently has a consensus rating of "Hold" and an average price target of $211.58.

Insider Buying and Selling

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the sale, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is owned by insiders.

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.