Creative Planning reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,194 shares of the financial services provider’s stock after selling 88 shares during the period. Creative Planning’s holdings in M&T Bank were worth $743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. TIAA CREF Investment Management LLC boosted its position in shares of M&T Bank by 118.1% during the third quarter. TIAA CREF Investment Management LLC now owns 872,268 shares of the financial services provider’s stock worth $143,523,000 after buying an additional 472,403 shares during the period. Janus Henderson Group PLC boosted its position in shares of M&T Bank by 104.2% during the third quarter. Janus Henderson Group PLC now owns 727,518 shares of the financial services provider’s stock worth $119,706,000 after buying an additional 371,263 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of M&T Bank during the third quarter worth $58,258,000. FMR LLC boosted its position in shares of M&T Bank by 7.5% during the second quarter. FMR LLC now owns 4,251,775 shares of the financial services provider’s stock worth $723,439,000 after buying an additional 297,143 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of M&T Bank by 18.3% during the third quarter. Deutsche Bank AG now owns 1,594,602 shares of the financial services provider’s stock worth $262,372,000 after buying an additional 247,005 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.

MTB has been the subject of several research analyst reports. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Nomura lowered their price target on M&T Bank from $195.00 to $178.00 and set a “neutral” rating for the company in a research report on Thursday, October 18th. ValuEngine upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Wedbush set a $165.00 target price on M&T Bank and gave the company a “hold” rating in a report on Friday, January 18th. Finally, Piper Jaffray Companies upgraded M&T Bank from a “neutral” rating to an “overweight” rating and set a $194.00 target price for the company in a report on Monday, October 22nd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. M&T Bank presently has an average rating of “Buy” and an average target price of $180.40.

NYSE:MTB opened at $170.62 on Thursday. The firm has a market capitalization of $23.40 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.86 and a beta of 1.07. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $197.37. The company has a quick ratio of 1.07, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 17th. The financial services provider reported $3.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.49 by $0.27. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. M&T Bank had a return on equity of 14.24% and a net margin of 29.72%. During the same period last year, the business posted $2.66 earnings per share. Equities research analysts predict that M&T Bank Co. will post 14.62 earnings per share for the current year.

In other M&T Bank news, CFO Darren J. King sold 10,000 shares of M&T Bank stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $164.56, for a total transaction of $1,645,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Todaro sold 708 shares of M&T Bank stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $164.86, for a total value of $116,720.88. The disclosure for this sale can be found here. Insiders have sold a total of 12,265 shares of company stock valued at $2,022,995 over the last ninety days. 0.48% of the stock is owned by company insiders.

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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 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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Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTB).

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

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