Commerce Bank Buys 1,949 Shares of M&T Bank Co. (NYSE:MTB)

Commerce Bank increased its stake in M&T Bank Co. (NYSE:MTB) by 65.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,922 shares of the financial services provider’s stock after purchasing an additional 1,949 shares during the period. Commerce Bank’s holdings in M&T Bank were worth $735,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MTB. Amundi bought a new position in M&T Bank in the 2nd quarter worth approximately $158,533,000. Marathon Asset Mgmt Ltd bought a new position in M&T Bank in the 3rd quarter worth approximately $99,547,000. Nordea Investment Management AB grew its holdings in M&T Bank by 109.0% during the 3rd quarter. Nordea Investment Management AB now owns 980,240 shares of the financial services provider’s stock worth $150,368,000 after acquiring an additional 511,133 shares during the period. JPMorgan Chase & Co. grew its holdings in M&T Bank by 11.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,709,328 shares of the financial services provider’s stock worth $684,313,000 after acquiring an additional 472,226 shares during the period. Finally, Border to Coast Pensions Partnership Ltd acquired a new stake in M&T Bank during the 2nd quarter worth $34,948,235,000. Hedge funds and other institutional investors own 85.30% of the company’s stock.

Shares of MTB stock opened at $185.34 on Friday. M&T Bank Co. has a 12-month low of $128.46 and a 12-month high of $185.38. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $157.79 and a 200-day moving average of $148.09.

M&T Bank (NYSE:MTB) last announced its earnings results on Tuesday, October 19th. The financial services provider reported $3.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.50 by $0.19. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.47 billion. M&T Bank had a net margin of 30.39% and a return on equity of 12.37%. During the same period in the prior year, the business earned $2.77 EPS. Research analysts expect that M&T Bank Co. will post 13.86 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Tuesday, November 30th were paid a $1.20 dividend. The ex-dividend date was Monday, November 29th. This is a positive change from M&T Bank’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a yield of 2.59%. M&T Bank’s dividend payout ratio is presently 34.41%.

In related news, EVP Robert J. Bojdak sold 770 shares of the company’s stock in a transaction on Monday, October 25th. The shares were sold at an average price of $158.76, for a total value of $122,245.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP D Scott N. Warman sold 3,964 shares of the company’s stock in a transaction on Friday, November 12th. The stock was sold at an average price of $159.88, for a total transaction of $633,764.32. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

A number of research firms have commented on MTB. UBS Group began coverage on shares of M&T Bank in a report on Wednesday. They set a “buy” rating and a $212.00 target price for the company. Royal Bank of Canada lifted their target price on shares of M&T Bank from $166.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, October 21st. Citigroup lifted their target price on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, December 16th. Jefferies Financial Group reaffirmed a “hold” rating on shares of M&T Bank in a report on Thursday, November 11th. Finally, Morgan Stanley began coverage on shares of M&T Bank in a report on Tuesday. They set an “equal weight” rating and a $195.00 target price for the company. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus target price of $173.97.

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 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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