Vinva Investment Management Ltd Purchases 4,483 Shares of M&T Bank Co. (NYSE:MTB)

Vinva Investment Management Ltd boosted its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 80.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,021 shares of the financial services provider's stock after purchasing an additional 4,483 shares during the period. Vinva Investment Management Ltd's holdings in M&T Bank were worth $1,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd increased its holdings in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in M&T Bank in the 3rd quarter valued at $32,000. Hexagon Capital Partners LLC increased its stake 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 valued at $34,000 after buying an additional 68 shares during the period. Oakworth Capital Inc. bought a new stake in shares of M&T Bank during the second quarter worth $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of 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 acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Down 0.4 %

Shares of MTB stock traded down $0.81 on Friday, hitting $219.99. 542,441 shares of the stock were exchanged, compared to its average volume of 1,037,194. M&T Bank Co. has a fifty-two week low of $125.61 and a fifty-two week high of $225.70. 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 business has a 50-day moving average of $196.45 and a 200 day moving average of $171.86. The firm has a market capitalization of $36.50 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.30 billion. Equities analysts anticipate that M&T Bank Co. will post 14.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.45%. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

Insiders Place Their Bets

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the sale, the insider now owns 40,502 shares of the company's stock, valued at approximately $7,933,531.76. This represents a 15.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rene F. Jones sold 23,071 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares of the company's stock, valued at approximately $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,504 shares of company stock worth $18,394,012 in the last 90 days. Company insiders own 0.82% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MTB shares. Evercore ISI upped their target price on shares of M&T Bank from $210.00 to $232.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. Wolfe Research upgraded shares of M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 target price for the company in a research report on Friday, October 4th. The Goldman Sachs Group raised 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. Finally, Citigroup downgraded M&T Bank from a "buy" rating to a "neutral" rating and upped their price objective for the company from $220.00 to $230.00 in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $206.41.

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.