AGF Management Ltd. Has $51.53 Million Stock Holdings in M&T Bank Corporation $MTB

AGF Management Ltd. reduced its stake in shares of M&T Bank Corporation (NYSE:MTB) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 265,632 shares of the financial services provider’s stock after selling 47,551 shares during the quarter. AGF Management Ltd. owned 0.17% of M&T Bank worth $51,530,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MTB. World Investment Advisors bought a new position in M&T Bank in the 1st quarter valued at about $202,000. Concurrent Investment Advisors LLC bought a new position in M&T Bank in the first quarter valued at approximately $225,000. Envestnet Asset Management Inc. raised its position in M&T Bank by 16.9% during the first quarter. Envestnet Asset Management Inc. now owns 268,934 shares of the financial services provider’s stock valued at $48,072,000 after purchasing an additional 38,913 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in M&T Bank by 74.1% during the first quarter. Stratos Wealth Partners LTD. now owns 6,254 shares of the financial services provider’s stock worth $1,118,000 after purchasing an additional 2,661 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of M&T Bank by 7.6% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,698 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MTB shares. UBS Group boosted their price target on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. TD Cowen increased their target price on shares of M&T Bank from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Cowen reaffirmed a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Weiss Ratings cut shares of M&T Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Cantor Fitzgerald started coverage on shares of M&T Bank in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.76.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. This represents a 45.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Up 1.3%

NYSE:MTB opened at $185.69 on Friday. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $28.54 billion, a PE ratio of 11.43, a P/E/G ratio of 0.87 and a beta of 0.66. The firm’s 50 day simple moving average is $191.14 and its 200 day simple moving average is $188.69.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The firm had revenue of $1.54 billion during the quarter. On average, research analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $1.50 dividend. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date was Tuesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.2%. M&T Bank’s dividend payout ratio is presently 36.95%.

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.