CIBC World Markets Inc. Has $524,000 Position in M&T Bank Co. (NYSE:MTB)

CIBC World Markets Inc. increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 46.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,339 shares of the financial services provider’s stock after purchasing an additional 1,054 shares during the quarter. CIBC World Markets Inc.’s holdings in M&T Bank were worth $524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of M&T Bank by 74.1% in the 4th quarter. FMR LLC now owns 5,947,002 shares of the financial services provider’s stock worth $851,195,000 after buying an additional 2,532,038 shares during the period. Norges Bank bought a new position in shares of M&T Bank in the 4th quarter worth $174,207,000. BlackRock Inc. raised its position in shares of M&T Bank by 2.3% in the 4th quarter. BlackRock Inc. now owns 10,220,602 shares of the financial services provider’s stock worth $1,462,876,000 after acquiring an additional 234,015 shares in the last quarter. Banco Santander S.A. acquired a new position in M&T Bank during the 4th quarter valued at about $23,961,000. Finally, Abacus Planning Group Inc. acquired a new position in M&T Bank during the 4th quarter valued at about $407,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider William J. Farrell II sold 1,476 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $169.43, for a total value of $250,078.68. Following the completion of the transaction, the insider now owns 13,844 shares in the company, valued at $2,345,588.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Doris P. Meister sold 460 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $160.29, for a total transaction of $73,733.40. Following the transaction, the insider now owns 1,553 shares of the company’s stock, valued at approximately $248,930.37. The disclosure for this sale can be found here. Insiders sold 9,521 shares of company stock valued at $1,594,509 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Several research analysts recently issued reports on the company. Wedbush upped their target price on M&T Bank from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Barclays increased their price objective on M&T Bank from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, April 5th. ValuEngine lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. UBS Group set a $169.00 price objective on M&T Bank and gave the company a “hold” rating in a report on Tuesday, April 2nd. Finally, Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating and set a $179.00 target price on the stock. in a research note on Monday. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $178.92.

Shares of MTB stock traded up $0.74 on Monday, reaching $170.81. 630,758 shares of the stock were exchanged, compared to its average volume of 789,230. M&T Bank Co. has a 1-year low of $133.78 and a 1-year high of $180.77. The stock has a market cap of $23.24 billion, a PE ratio of 13.28, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $165.36.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.05. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business posted $2.23 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 14.65 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, May 31st. M&T Bank’s dividend payout ratio (DPR) is presently 31.10%.

M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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