Securian Asset Management Inc Lowers Holdings in M&T Bank Co. (NYSE:MTB)

Securian Asset Management Inc decreased its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.9% in the second quarter, Holdings Channel reports. The institutional investor owned 10,775 shares of the financial services provider’s stock after selling 100 shares during the quarter. Securian Asset Management Inc’s holdings in M&T Bank were worth $1,566,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MTB. Marshall Wace LLP raised its stake in M&T Bank by 355.8% during the first quarter. Marshall Wace LLP now owns 2,147 shares of the financial services provider’s stock valued at $337,000 after buying an additional 1,676 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in M&T Bank by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 978,300 shares of the financial services provider’s stock valued at $124,524,000 after buying an additional 29,309 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in M&T Bank by 2.0% during the first quarter. Commonwealth Equity Services LLC now owns 19,164 shares of the financial services provider’s stock valued at $2,905,000 after buying an additional 381 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in M&T Bank by 91.6% during the first quarter. Envestnet Asset Management Inc. now owns 88,121 shares of the financial services provider’s stock valued at $13,360,000 after buying an additional 42,137 shares during the last quarter. Finally, Natixis Advisors L.P. raised its stake in M&T Bank by 15.9% during the first quarter. Natixis Advisors L.P. now owns 83,811 shares of the financial services provider’s stock valued at $12,706,000 after buying an additional 11,527 shares during the last quarter. Institutional investors and hedge funds own 85.09% of the company’s stock.

M&T Bank stock opened at $133.67 on Wednesday. The stock has a market cap of $17.20 billion, a PE ratio of 10.27 and a beta of 1.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank Co. has a one year low of $88.48 and a one year high of $168.27. The stock has a fifty day moving average of $137.37 and a 200 day moving average of $148.84.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $3.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.29). M&T Bank had a net margin of 28.58% and a return on equity of 11.70%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $1.76 EPS. As a group, sell-side analysts predict that M&T Bank Co. will post 13.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 1st will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, August 31st. M&T Bank’s dividend payout ratio is presently 43.91%.

MTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 7th. Wells Fargo & Company decreased their price target on M&T Bank from $168.00 to $155.00 and set an “equal weight” rating for the company in a research note on Thursday, July 22nd. Odeon Capital Group upgraded M&T Bank from a “sell” rating to a “hold” rating and set a $128.68 price target for the company in a research note on Monday, July 19th. Morgan Stanley decreased their price target on M&T Bank from $180.00 to $175.00 and set an “equal weight” rating for the company in a research note on Monday, August 2nd. Finally, Citigroup initiated coverage on M&T Bank in a research note on Friday, July 16th. They issued a “hold” rating and a $141.19 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $158.76.

About M&T Bank

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 following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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

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