M&T Bank Co. (NYSE:MTB) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 27.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,825 shares of the financial services provider's stock after acquiring an additional 6,626 shares during the quarter. Quantinno Capital Management LP's holdings in M&T Bank were worth $5,491,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider's stock worth $2,199,675,000 after acquiring an additional 1,508,846 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider's stock worth $897,216,000 after purchasing an additional 190,837 shares during the period. Massachusetts Financial Services Co. MA boosted its position in 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 worth $269,696,000 after purchasing an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $244,129,000 after purchasing an additional 93,113 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of 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 buying an additional 44,442 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Activity

In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of M&T Bank stock in a transaction that occurred on 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 transaction, the director now owns 29,796 shares in the company, valued at approximately $5,899,608. The trade was a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company'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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,994 shares of company stock valued at $17,211,278. Company insiders own 0.82% of the company's stock.

M&T Bank Trading Down 0.5 %

M&T Bank stock traded down $1.16 during mid-day trading on Friday, hitting $211.26. The company's stock had a trading volume of 789,697 shares, compared to its average volume of 842,760. The stock's fifty day moving average is $200.25 and its two-hundred day moving average is $174.06. 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 has a market capitalization of $35.05 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.98 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 for the quarter, topping analysts' consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations 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 anticipate that M&T Bank Co. will post 14.57 EPS for the current year.

M&T Bank Dividend Announcement

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 given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank's dividend payout ratio is presently 39.97%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MTB shares. Wolfe Research upgraded M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a "buy" rating in a report on Friday, October 18th. Evercore ISI boosted their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price target on shares of M&T Bank from $190.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. Finally, Citigroup downgraded M&T Bank from a "buy" rating to a "neutral" rating and increased their price objective for the company from $220.00 to $230.00 in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $209.32.

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.