Assenagon Asset Management S.A. raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 28.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 37,313 shares of the financial services provider’s stock after purchasing an additional 8,215 shares during the period. Assenagon Asset Management S.A.’s holdings in M&T Bank were worth $5,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its stake in M&T Bank by 21.9% during the 4th quarter. IFP Advisors Inc now owns 351 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 63 shares during the last quarter. First Midwest Bank Trust Division boosted its stake in shares of M&T Bank by 7.7% in the 4th quarter. First Midwest Bank Trust Division now owns 1,406 shares of the financial services provider’s stock worth $201,000 after buying an additional 100 shares during the last quarter. Norway Savings Bank boosted its stake in shares of M&T Bank by 3.6% in the 4th quarter. Norway Savings Bank now owns 4,335 shares of the financial services provider’s stock worth $620,000 after buying an additional 150 shares during the last quarter. Coastline Trust Co boosted its stake in shares of M&T Bank by 1.4% in the 4th quarter. Coastline Trust Co now owns 25,494 shares of the financial services provider’s stock worth $3,649,000 after buying an additional 350 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of M&T Bank by 1.5% in the 4th quarter. Strs Ohio now owns 24,569 shares of the financial services provider’s stock worth $3,516,000 after buying an additional 358 shares during the last quarter. Institutional investors and hedge funds own 80.62% of the company’s stock.

NYSE:MTB opened at $168.31 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.07 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $23.39 billion, a P/E ratio of 13.09, a P/E/G ratio of 0.86 and a beta of 0.99. M&T Bank Co. has a 12 month low of $133.78 and a 12 month high of $197.37.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 17th. The financial services provider reported $3.76 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.27. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same quarter in the previous year, the firm posted $2.66 EPS. As a group, sell-side analysts expect that M&T Bank Co. will post 14.62 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Monday, December 3rd were issued a $1.00 dividend. The ex-dividend date was Friday, November 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.38%. M&T Bank’s dividend payout ratio (DPR) is presently 31.10%.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 target price on the stock in a research note on Friday, January 18th. Wedbush set a $165.00 target price on M&T Bank and gave the stock a “hold” rating in a research note on Friday, January 18th. ValuEngine upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday, January 17th. UBS Group upgraded M&T Bank from a “sell” rating to a “neutral” rating in a research note on Tuesday, January 8th. Finally, Barclays cut their target price on M&T Bank from $210.00 to $203.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $180.40.

In related news, insider Sabeth Siddique sold 930 shares of M&T Bank stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $164.80, for a total value of $153,264.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard H. Jr. Ledgett sold 500 shares of M&T Bank stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $168.40, for a total transaction of $84,200.00. The disclosure for this sale can be found here. Insiders sold a total of 3,529 shares of company stock worth $585,369 in the last ninety days. 0.48% of the stock is currently owned by insiders.

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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 retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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

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