Commerce Bank Has $1.70 Million Position in M&T Bank Co. (NYSE:MTB)

Commerce Bank cut its holdings in M&T Bank Co. (NYSE:MTB) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,563 shares of the financial services provider’s stock after selling 130 shares during the quarter. Commerce Bank’s holdings in M&T Bank were worth $1,703,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Marshall Wace LLP lifted its stake in shares of M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares during the last quarter. Canoe Financial LP boosted its stake in shares of M&T Bank by 29.4% during the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock worth $103,200,000 after acquiring an additional 133,748 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of M&T Bank by 17,784.1% during the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after acquiring an additional 109,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Up 2.1 %

Shares of M&T Bank stock opened at $221.12 on Friday. The company’s fifty day moving average price is $191.98 and its two-hundred day moving average price is $169.61. The firm has a market capitalization of $36.69 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 3.05 and a beta of 0.74. M&T Bank Co. has a 52-week low of $123.46 and a 52-week high of $221.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, analysts expect that M&T Bank Co. will post 14.56 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 $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MTB shares. Wells Fargo & Company lifted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Friday, October 4th. Wedbush boosted their price objective on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Finally, Bank of America raised their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $199.65.

Insiders Place Their Bets

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction dated 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 in the company, valued at $7,933,531.76. This trade represents a 15.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,383 shares of company stock worth $13,576,801 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

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.