Massachusetts Financial Services Co. MA Purchases 8,384 Shares of M&T Bank Corporation (MTB)

Massachusetts Financial Services Co. MA boosted its stake in M&T Bank Corporation (NYSE:MTB) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,195 shares of the bank’s stock after buying an additional 8,384 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.24% of M&T Bank Corporation worth $56,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. QCI Asset Management Inc. NY raised its position in shares of M&T Bank Corporation by 8.3% in the first quarter. QCI Asset Management Inc. NY now owns 1,056 shares of the bank’s stock valued at $163,000 after buying an additional 81 shares during the last quarter. Mosaic Family Wealth LLC raised its position in shares of M&T Bank Corporation by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 1,163 shares of the bank’s stock valued at $180,000 after buying an additional 33 shares during the last quarter. WealthTrust Axiom LLC purchased a new position in shares of M&T Bank Corporation during the first quarter valued at about $220,000. TNB Financial purchased a new position in shares of M&T Bank Corporation during the first quarter valued at about $229,000. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of M&T Bank Corporation during the first quarter valued at about $248,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

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

Shares of M&T Bank Corporation (NYSE:MTB) traded down 0.44% during mid-day trading on Tuesday, hitting $161.95. The company had a trading volume of 110,052 shares. M&T Bank Corporation has a 52 week low of $108.04 and a 52 week high of $173.72. The firm has a 50-day moving average price of $159.37 and a 200-day moving average price of $158.86. The firm has a market capitalization of $24.92 billion, a PE ratio of 19.82 and a beta of 0.76.

M&T Bank Corporation (NYSE:MTB) last posted its quarterly earnings data on Monday, April 17th. The bank reported $2.12 EPS for the quarter, topping the consensus estimate of $1.94 by $0.18. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. M&T Bank Corporation had a return on equity of 9.22% and a net margin of 23.62%. During the same period in the prior year, the business posted $1.87 EPS. Equities analysts forecast that M&T Bank Corporation will post $9.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be paid a $0.75 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.84%. M&T Bank Corporation’s dividend payout ratio (DPR) is 36.67%.

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Several research analysts have issued reports on the company. Zacks Investment Research lowered M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods set a $160.00 target price on M&T Bank Corporation and gave the company a “hold” rating in a report on Monday. BidaskClub upgraded M&T Bank Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. ValuEngine upgraded M&T Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Evercore ISI restated an “in-line” rating and issued a $177.00 target price on shares of M&T Bank Corporation in a report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $154.27.

In other news, insider Richard S. Gold sold 6,904 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $162.71, for a total value of $1,123,349.84. Following the completion of the sale, the insider now directly owns 39,326 shares in the company, valued at approximately $6,398,733.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian E. Hickey sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $162.02, for a total value of $324,040.00. Following the completion of the sale, the insider now owns 12,169 shares of the company’s stock, valued at $1,971,621.38. The disclosure for this sale can be found here. Corporate insiders own 3.18% of the company’s stock.

About M&T Bank Corporation

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.

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