M&T Bank Co. (MTB) Position Lifted by Columbia Asset Management

Columbia Asset Management boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 88.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,475 shares of the financial services provider’s stock after buying an additional 1,160 shares during the period. Columbia Asset Management’s holdings in M&T Bank were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Stephens Inc. AR increased its position in M&T Bank by 54.8% during the 4th quarter. Stephens Inc. AR now owns 2,368 shares of the financial services provider’s stock valued at $405,000 after buying an additional 838 shares in the last quarter. Calton & Associates Inc. acquired a new position in M&T Bank during the 4th quarter valued at about $178,000. American Century Companies Inc. increased its holdings in shares of M&T Bank by 2.8% in the fourth quarter. American Century Companies Inc. now owns 1,584,086 shares of the financial services provider’s stock valued at $270,863,000 after purchasing an additional 42,852 shares during the period. Huntington National Bank increased its holdings in shares of M&T Bank by 11.3% in the fourth quarter. Huntington National Bank now owns 108,143 shares of the financial services provider’s stock valued at $18,491,000 after purchasing an additional 10,952 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of M&T Bank by 3.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 25,930 shares of the financial services provider’s stock valued at $4,434,000 after purchasing an additional 803 shares during the period. 77.70% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on MTB shares. Robert W. Baird reissued a “sell” rating and issued a $145.00 price objective on shares of M&T Bank in a report on Friday, October 20th. Nomura increased their price objective on M&T Bank from $145.00 to $162.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Jefferies Group reissued a “buy” rating and issued a $201.00 price objective on shares of M&T Bank in a report on Monday, January 8th. Wells Fargo & Co set a $180.00 price objective on M&T Bank and gave the company a “hold” rating in a report on Wednesday, December 20th. Finally, UBS Group raised M&T Bank from a “sell” rating to a “neutral” rating and increased their price objective for the company from $150.00 to $173.00 in a report on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. M&T Bank has an average rating of “Hold” and an average target price of $174.00.

Shares of M&T Bank Co. (MTB) opened at $179.81 on Tuesday. The company has a market capitalization of $27,970.00, a PE ratio of 20.39, a P/E/G ratio of 1.22 and a beta of 0.91. M&T Bank Co. has a 1-year low of $141.12 and a 1-year high of $193.85. The company has a current ratio of 0.99, a quick ratio of 1.05 and a debt-to-equity ratio of 0.54.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, topping the consensus estimate of $2.40 by $0.26. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. M&T Bank’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.98 earnings per share. analysts predict that M&T Bank Co. will post 12.08 EPS for the current year.

In related news, insider Michael J. Todaro sold 1,025 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $190.39, for a total transaction of $195,149.75. Following the sale, the insider now directly owns 814 shares of the company’s stock, valued at $154,977.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary N. Geisel sold 1,046 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $170.49, for a total value of $178,332.54. Following the sale, the director now directly owns 17,586 shares in the company, valued at $2,998,237.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 34,000 shares of company stock worth $3,110 and have sold 92,427 shares worth $17,033,174. 3.18% of the stock is owned by company insiders.

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M&T Bank 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.

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

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