FDx Advisors Inc. lowered its holdings in M&T Bank Corporation (NYSE:MTB) by 35.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,321 shares of the bank’s stock after selling 6,785 shares during the quarter. FDx Advisors Inc.’s holdings in M&T Bank Corporation were worth $1,984,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its holdings in M&T Bank Corporation by 1.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 40,476 shares of the bank’s stock worth $6,518,000 after acquiring an additional 482 shares during the last quarter. Cambridge Trust Co. boosted its holdings in M&T Bank Corporation by 2.4% during the 3rd quarter. Cambridge Trust Co. now owns 93,960 shares of the bank’s stock worth $15,131,000 after acquiring an additional 2,158 shares during the last quarter. Wedbush Securities Inc. purchased a new position in M&T Bank Corporation during the 3rd quarter worth $206,000. Canada Pension Plan Investment Board boosted its holdings in M&T Bank Corporation by 1,012.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 250,491 shares of the bank’s stock worth $40,339,000 after acquiring an additional 227,980 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in M&T Bank Corporation by 4.2% during the 3rd quarter. New York State Teachers Retirement System now owns 267,533 shares of the bank’s stock worth $43,084,000 after acquiring an additional 10,680 shares during the last quarter. 79.28% of the stock is owned by institutional investors and hedge funds.

Shares of M&T Bank Corporation (MTB) traded down $1.51 during trading on Monday, reaching $157.10. The company had a trading volume of 726,900 shares, compared to its average volume of 759,423. M&T Bank Corporation has a fifty-two week low of $132.70 and a fifty-two week high of $173.72. The company has a market cap of $23,645.97, a PE ratio of 17.89, a P/E/G ratio of 1.91 and a beta of 0.85. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.57.

M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 18th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). M&T Bank Corporation had a net margin of 23.97% and a return on equity of 9.52%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm posted $2.10 earnings per share. research analysts predict that M&T Bank Corporation will post 9.1 earnings per share for the current fiscal year.

MTB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $167.00 price objective on shares of M&T Bank Corporation in a report on Friday, July 21st. BidaskClub downgraded shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Macquarie downgraded shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, August 4th. Wells Fargo & Company initiated coverage on shares of M&T Bank Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price objective on the stock. Finally, ValuEngine raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $161.89.

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In other news, VP Michele D. Trolli sold 9,730 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the sale, the vice president now directly owns 24,708 shares in the company, valued at $4,148,226.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sabeth Siddique sold 950 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total value of $139,811.50. Following the sale, the insider now owns 1,488 shares in the company, valued at $218,988.96. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 1,053,000 shares of company stock worth $89,640 and have sold 1,779,680 shares worth $1,912,181. Corporate insiders own 3.18% of the company’s stock.

M&T Bank Corporation Company Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

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

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