Coho Partners Ltd. raised its stake in shares of M&T Bank (NYSE:MTB) by 24.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,744 shares of the financial services provider’s stock after buying an additional 339 shares during the quarter. Coho Partners Ltd.’s holdings in M&T Bank were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in M&T Bank by 0.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,635,462 shares of the financial services provider’s stock valued at $301,514,000 after buying an additional 6,330 shares in the last quarter. Geode Capital Management LLC grew its holdings in M&T Bank by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,605,152 shares of the financial services provider’s stock valued at $273,904,000 after buying an additional 22,149 shares in the last quarter. American Century Companies Inc. grew its holdings in M&T Bank by 2.8% during the 4th quarter. American Century Companies Inc. now owns 1,584,086 shares of the financial services provider’s stock valued at $270,863,000 after buying an additional 42,852 shares in the last quarter. Millennium Management LLC grew its holdings in M&T Bank by 1,688.7% during the 4th quarter. Millennium Management LLC now owns 1,025,822 shares of the financial services provider’s stock valued at $175,405,000 after buying an additional 968,471 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in M&T Bank by 3.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 531,173 shares of the financial services provider’s stock valued at $97,928,000 after buying an additional 16,192 shares in the last quarter. 80.32% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on MTB. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $186.00 price objective (up from $180.00) on shares of M&T Bank in a report on Tuesday, February 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of M&T Bank in a report on Tuesday, February 6th. Piper Jaffray reaffirmed a “neutral” rating on shares of M&T Bank in a report on Thursday, January 18th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $207.00 price objective on shares of M&T Bank in a report on Tuesday, April 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $179.06.

In related news, insider Sabeth Siddique sold 975 shares of the firm’s stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $182.52, for a total value of $177,957.00. Following the completion of the sale, the insider now directly owns 2,759 shares in the company, valued at $503,572.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $194.85, for a total value of $194,850.00. Following the completion of the sale, the director now owns 52,197 shares of the company’s stock, valued at $10,170,585.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,037 shares of company stock valued at $580,078. 0.48% of the stock is owned by corporate insiders.

M&T Bank opened at $184.25 on Friday, MarketBeat.com reports. M&T Bank has a fifty-two week low of $183.17 and a fifty-two week high of $184.92. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $26.78 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 16th. The financial services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.53). M&T Bank had a net margin of 23.12% and a return on equity of 10.91%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the business posted $2.12 earnings per share. analysts predict that M&T Bank will post 12.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This is an increase from M&T Bank’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.74%. M&T Bank’s dividend payout ratio (DPR) is currently 32.09%.

M&T Bank announced that its Board of Directors has initiated a share repurchase program on Monday, February 5th that authorizes the company to repurchase $745.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.

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

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