Nordea Investment Management AB Has $2.64 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Nordea Investment Management AB grew its position in M&T Bank Co. (NYSE:MTB) by 7.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,036 shares of the financial services provider’s stock after buying an additional 927 shares during the period. Nordea Investment Management AB’s holdings in M&T Bank were worth $2,643,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hedeker Wealth LLC raised its position in shares of M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after acquiring an additional 55 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of 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 worth $1,005,000 after purchasing an additional 57 shares during the period. Crestwood Advisors Group LLC increased its holdings in M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 57 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in M&T Bank by 54.4% in the third 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. Finally, Meitav Investment House Ltd. boosted its holdings in M&T Bank by 3.1% during the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after buying an additional 69 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In other news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank 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, Director John P. Barnes sold 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and upped their price target for the company from $220.00 to $230.00 in a research note on Monday, November 25th. Wolfe Research raised 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 note on Friday, October 4th. Evercore ISI lifted their price target on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective 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. Finally, Bank of America lifted their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $216.86.

M&T Bank Stock Down 1.7 %

MTB stock opened at $187.82 on Friday. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The company has a market cap of $31.16 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.79 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $203.16 and a two-hundred day moving average price of $182.08.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Analysts anticipate that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.88%. M&T Bank’s dividend payout ratio is presently 39.97%.

M&T Bank Company 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.