Canada Pension Plan Investment Board raised its stake in M&T Bank Co. (NYSE:MTB) by 59.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 349,775 shares of the financial services provider’s stock after buying an additional 130,112 shares during the quarter. Canada Pension Plan Investment Board owned 0.24% of M&T Bank worth $59,514,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MTB. Northstar Asset Management LLC bought a new stake in shares of M&T Bank during the first quarter valued at approximately $204,000. Wells Fargo & Company MN boosted its position in shares of M&T Bank by 0.4% during the first quarter. Wells Fargo & Company MN now owns 1,635,462 shares of the financial services provider’s stock valued at $301,514,000 after purchasing an additional 6,330 shares in the last quarter. Sentry Investment Management LLC boosted its position in shares of M&T Bank by 37.4% during the first quarter. Sentry Investment Management LLC now owns 11,038 shares of the financial services provider’s stock valued at $2,035,000 after purchasing an additional 3,007 shares in the last quarter. WealthTrust Axiom LLC bought a new stake in shares of M&T Bank during the first quarter valued at approximately $601,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of M&T Bank by 115.3% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 3,274 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 1,753 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.

MTB has been the topic of several research reports. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. Sanford C. Bernstein upgraded M&T Bank from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 27th. They noted that the move was a valuation call. ValuEngine lowered M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, July 6th. Jefferies Financial Group restated a “buy” rating and set a $195.00 price target on shares of M&T Bank in a research report on Friday, July 13th. Finally, Wedbush lifted their price target on M&T Bank from $190.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, July 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $178.56.

M&T Bank stock opened at $176.50 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank Co. has a 12 month low of $141.12 and a 12 month high of $197.37. The firm has a market capitalization of $25.01 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 0.93 and a beta of 0.91.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, July 18th. The financial services provider reported $3.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.17 by $0.09. M&T Bank had a return on equity of 11.80% and a net margin of 24.57%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the company posted $2.35 earnings per share. research analysts predict that M&T Bank Co. will post 12.84 EPS for the current year.

In other M&T Bank news, insider Robert J. Bojdak sold 1,570 shares of the business’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $177.93, for a total value of $279,350.10. Following the sale, the insider now directly owns 20,501 shares of the company’s stock, valued at $3,647,742.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

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.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

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

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