Nordea Investment Management AB Has $1.88 Million Holdings in M&T Bank Co. (NYSE:MTB)

Nordea Investment Management AB grew its holdings in shares of M&T Bank Co. (NYSE:MTBFree Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,867 shares of the financial services provider’s stock after purchasing an additional 460 shares during the period. Nordea Investment Management AB’s holdings in M&T Bank were worth $1,875,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MTB. Lido Advisors LLC boosted its position in shares of M&T Bank by 17.5% during the 3rd quarter. Lido Advisors LLC now owns 2,125 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 316 shares in the last quarter. Comerica Bank boosted its position in shares of M&T Bank by 0.7% during the 3rd quarter. Comerica Bank now owns 37,280 shares of the financial services provider’s stock worth $4,714,000 after acquiring an additional 264 shares in the last quarter. Graham Capital Management L.P. boosted its position in shares of M&T Bank by 206.1% during the 3rd quarter. Graham Capital Management L.P. now owns 6,820 shares of the financial services provider’s stock worth $862,000 after acquiring an additional 4,592 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of M&T Bank by 4.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 38,493 shares of the financial services provider’s stock worth $4,867,000 after acquiring an additional 1,736 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in M&T Bank by 10.8% in the 3rd quarter. Deutsche Bank AG now owns 312,700 shares of the financial services provider’s stock valued at $39,541,000 after purchasing an additional 30,409 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the completion of the transaction, the director now directly owns 6,348 shares in the company, valued at $939,567.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the transaction, the director now directly owns 35,480 shares in the company, valued at $5,481,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the transaction, the director now owns 6,348 shares of the company’s stock, valued at $939,567.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,553 shares of company stock worth $14,724,147. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group increased their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. DA Davidson reaffirmed a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $170.00 price target on shares of M&T Bank in a research note on Thursday, June 27th. Finally, Wells Fargo & Company raised their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $161.58.

View Our Latest Analysis on M&T Bank

M&T Bank Trading Up 1.7 %

NYSE:MTB opened at $152.38 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $25.42 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.91 and a beta of 0.77. The firm has a fifty day simple moving average of $148.86 and a two-hundred day simple moving average of $142.61. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $156.65.

M&T Bank (NYSE:MTBGet Free Report) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the previous year, the business posted $4.09 earnings per share. Analysts expect that M&T Bank Co. will post 13.99 EPS for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.54%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

M&T Bank Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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