M&T Bank Co. (NYSE:MTB) Shares Sold by Toroso Investments LLC

Toroso Investments LLC lessened its stake in M&T Bank Co. (NYSE:MTB – Get Rating) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,918 shares of the financial services provider’s stock after selling 472 shares during the period. Toroso Investments LLC’s holdings in M&T Bank were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in MTB. SRS Capital Advisors Inc. raised its holdings in shares of M&T Bank by 712.5% in the second quarter. SRS Capital Advisors Inc. now owns 195 shares of the financial services provider’s stock valued at $31,000 after buying an additional 171 shares during the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of M&T Bank by 148.9% in the third quarter. Ronald Blue Trust Inc. now owns 219 shares of the financial services provider’s stock valued at $35,000 after buying an additional 131 shares during the last quarter. Private Trust Co. NA purchased a new stake in shares of M&T Bank in the second quarter valued at about $40,000. CI Investments Inc. raised its holdings in shares of M&T Bank by 887.5% in the third quarter. CI Investments Inc. now owns 237 shares of the financial services provider’s stock valued at $42,000 after buying an additional 213 shares during the last quarter. Finally, Riverview Trust Co raised its holdings in shares of M&T Bank by 219.3% in the third quarter. Riverview Trust Co now owns 265 shares of the financial services provider’s stock valued at $47,000 after buying an additional 182 shares during the last quarter. 84.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of recent analyst reports. Wedbush upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Tuesday, January 3rd. Odeon Capital Group upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $171.76 price target on the stock in a research note on Tuesday, January 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of M&T Bank from $255.00 to $175.00 in a research note on Friday, January 6th. Citigroup boosted their price target on shares of M&T Bank from $160.00 to $178.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 22nd. Finally, DA Davidson began coverage on shares of M&T Bank in a research note on Wednesday, December 21st. They set a “neutral” rating and a $160.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus target price of $182.18.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $122.50 on Friday. The business’s fifty day moving average price is $150.57 and its two-hundred day moving average price is $161.78. The stock has a market cap of $20.58 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank Co. has a one year low of $120.40 and a one year high of $193.42.

M&T Bank (NYSE:MTB – Get Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $4.57 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.10. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.37 billion. M&T Bank had a return on equity of 11.41% and a net margin of 23.15%. During the same quarter in the prior year, the firm earned $3.37 EPS. On average, analysts forecast that M&T Bank Co. will post 18.09 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 6th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Friday, March 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.20. M&T Bank’s dividend payout ratio is currently 45.14%.

About M&T Bank

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.