M&T Bank Corporation (NYSE:MTB) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its stake in shares of M&T Bank Corporation (NYSE:MTB) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,629 shares of the financial services provider’s stock after purchasing an additional 936 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in M&T Bank were worth $4,045,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTB. FMR LLC raised its stake in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider’s stock valued at $2,652,899,000 after acquiring an additional 1,761,014 shares in the last quarter. Norges Bank bought a new stake in M&T Bank during the 4th quarter valued at $317,690,000. GAMMA Investing LLC raised its stake in M&T Bank by 18,471.2% during the 1st quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider’s stock valued at $126,145,000 after acquiring an additional 701,905 shares in the last quarter. Nuveen Asset Management LLC raised its stake in M&T Bank by 22.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider’s stock valued at $294,662,000 after acquiring an additional 286,049 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in M&T Bank during the 4th quarter valued at $48,939,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company cut their target price on M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 15th. DA Davidson cut their target price on M&T Bank from $205.00 to $189.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the company a “buy” rating in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Thursday, April 24th. Finally, Citigroup upped their price objective on M&T Bank from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, M&T Bank has a consensus rating of “Moderate Buy” and an average price target of $210.88.

Insider Activity at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director now directly owns 23,070 shares of the company’s stock, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

M&T Bank Trading Up 0.2%

Shares of NYSE MTB opened at $193.87 on Friday. M&T Bank Corporation has a 12 month low of $145.82 and a 12 month high of $225.70. The company has a market cap of $31.12 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.40 and a beta of 0.62. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $179.92 and a 200-day simple moving average of $183.53.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the company earned $3.09 earnings per share. Sell-side analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date is Monday, June 2nd. M&T Bank’s payout ratio is 36.17%.

M&T Bank Company Profile

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.