Amundi Pioneer Asset Management Inc. Acquires 33,596 Shares of M&T Bank Co. (NYSE:MTB)

Amundi Pioneer Asset Management Inc. raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 10.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 364,845 shares of the financial services provider’s stock after purchasing an additional 33,596 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.27% of M&T Bank worth $57,287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Doyle Wealth Management purchased a new position in M&T Bank during the fourth quarter valued at $29,000. JOYN Advisors Inc. lifted its stake in shares of M&T Bank by 141.4% in the fourth quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock worth $34,000 after buying an additional 140 shares in the last quarter. Liberty Wealth Management LLC lifted its stake in shares of M&T Bank by 972.7% in the first quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock worth $37,000 after buying an additional 214 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of M&T Bank in the first quarter worth about $42,000. Finally, CX Institutional purchased a new position in shares of M&T Bank in the first quarter worth about $47,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Doris P. Meister sold 460 shares of the firm’s 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 owns 1,553 shares of the company’s stock, valued at $248,930.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert J. Bojdak sold 1,638 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $170.03, for a total value of $278,509.14. Following the transaction, the insider now owns 20,199 shares in the company, valued at $3,434,435.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,521 shares of company stock worth $920,389. 0.54% of the stock is owned by corporate insiders.

Several equities analysts have recently weighed in on MTB shares. ValuEngine downgraded shares of United Rentals from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Keefe, Bruyette & Woods lifted their target price on shares of Fidelity National Financial from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group lifted their target price on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Citigroup raised shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Friday, July 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $181.17.

Shares of NYSE:MTB traded up $0.11 during trading on Friday, hitting $162.87. 1,016,692 shares of the company were exchanged, compared to its average volume of 687,823. The stock has a market capitalization of $22.24 billion, a PE ratio of 12.66, a P/E/G ratio of 1.73 and a beta of 1.06. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 0.53. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $180.77. The company has a 50 day moving average of $168.19.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.34 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.36). The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. M&T Bank had a net margin of 29.81% and a return on equity of 14.26%. During the same quarter last year, the company earned $3.26 EPS. As a group, analysts forecast that M&T Bank Co. will post 14.42 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 paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.46%. M&T Bank’s dividend payout ratio (DPR) is presently 31.10%.

M&T Bank Company 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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