Nordea Investment Management AB Buys 3,447 Shares of M&T Bank Co. (NYSE:MTB)

Nordea Investment Management AB raised its holdings in M&T Bank Co. (NYSE:MTB) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 94,996 shares of the financial services provider’s stock after buying an additional 3,447 shares during the period. Nordea Investment Management AB owned 0.07% of M&T Bank worth $14,916,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Doyle Wealth Management bought a new stake in shares of M&T Bank during the 4th quarter worth approximately $29,000. JOYN Advisors Inc. increased its position in M&T Bank by 141.4% during the 4th quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 140 shares in the last quarter. Liberty Wealth Management LLC increased its position in M&T Bank by 972.7% during the 1st quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 214 shares in the last quarter. Pearl River Capital LLC acquired a new position in M&T Bank during the 1st quarter worth approximately $42,000. Finally, Lindbrook Capital LLC acquired a new position in M&T Bank during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

A number of equities analysts recently issued reports on the stock. ValuEngine cut shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Citigroup upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Friday. Barclays set a $24.00 price target on shares of Tenet Healthcare and gave the company a “hold” rating in a research report on Wednesday, April 17th. Wedbush upped their price objective on shares of Wintrust Financial from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Gilead Sciences in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $178.08.

In other M&T Bank news, insider Doris P. Meister sold 460 shares of M&T Bank stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $160.29, for a total transaction of $73,733.40. Following the completion of the sale, the insider now directly owns 1,553 shares in the company, valued at $248,930.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian E. Hickey sold 4,000 shares of M&T Bank stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $168.53, for a total transaction of $674,120.00. Following the sale, the insider now owns 17,819 shares of the company’s stock, valued at $3,003,036.07. The disclosure for this sale can be found here. Insiders have sold 9,521 shares of company stock valued at $1,594,509 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Shares of M&T Bank stock traded up $0.30 during trading hours on Friday, reaching $174.07. The company’s stock had a trading volume of 598,905 shares, compared to its average volume of 562,101. The business has a fifty day simple moving average of $167.45. The stock has a market cap of $23.74 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.59 and a beta of 1.06. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank Co. has a one year low of $133.78 and a one year high of $180.77.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.30 by $0.05. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. During the same quarter in the prior year, the company posted $2.23 earnings per share. As a group, equities analysts forecast that M&T Bank Co. will post 14.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a dividend of $1.00 per share. The ex-dividend date was Friday, May 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.30%. 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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