Toronto Dominion Bank Acquires 34,501 Shares of M&T Bank Co. (NYSE:MTB)

Toronto Dominion Bank raised its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 71.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,019 shares of the financial services provider's stock after acquiring an additional 34,501 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of M&T Bank worth $14,787,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in 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 valued at $2,199,675,000 after purchasing an additional 1,508,846 shares during the last quarter. State Street Corp increased its holdings in shares of M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock worth $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider's stock worth $897,216,000 after buying an additional 190,837 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider's stock valued at $768,824,000 after acquiring an additional 66,337 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider's stock worth $269,696,000 after acquiring an additional 81,004 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Barclays lifted their price objective on M&T Bank from $170.00 to $228.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. Citigroup cut M&T Bank from a "buy" rating to a "neutral" rating and lifted their price target for the company from $220.00 to $230.00 in a report on Monday, November 25th. Evercore ISI increased their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $211.58.

M&T Bank Trading Down 0.3 %

Shares of MTB stock traded down $0.66 on Friday, reaching $199.29. The company had a trading volume of 1,556,172 shares, compared to its average volume of 1,042,892. The company has a 50-day moving average of $202.63 and a 200-day moving average of $175.37. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. The stock has a market cap of $33.07 billion, a PE ratio of 14.80, 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.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, equities analysts forecast that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.35 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.71%. M&T Bank's dividend payout ratio is presently 39.97%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 owns 5,141 shares of the company's stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,994 shares of company stock valued at $17,211,278. Company insiders own 0.82% of the company's stock.

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.