Profund Advisors LLC Has $781,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Profund Advisors LLC grew its position in M&T Bank Co. (NYSE:MTB) by 30.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,592 shares of the financial services provider’s stock after purchasing an additional 1,083 shares during the period. Profund Advisors LLC’s holdings in M&T Bank were worth $781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. First Allied Advisory Services Inc. boosted its holdings in shares of M&T Bank by 1.8% in the second quarter. First Allied Advisory Services Inc. now owns 4,028 shares of the financial services provider’s stock worth $685,000 after buying an additional 71 shares during the period. CX Institutional boosted its holdings in shares of M&T Bank by 24.8% during the second quarter. CX Institutional now owns 372 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 74 shares during the period. Sky Investment Group LLC boosted its holdings in shares of M&T Bank by 0.3% during the second quarter. Sky Investment Group LLC now owns 26,691 shares of the financial services provider’s stock worth $4,539,000 after purchasing an additional 78 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of M&T Bank by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 14,818 shares of the financial services provider’s stock worth $2,520,000 after purchasing an additional 86 shares during the period. Finally, IMS Capital Management boosted its holdings in shares of M&T Bank by 4.4% during the first quarter. IMS Capital Management now owns 2,390 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 100 shares during the period. Institutional investors own 82.08% of the company’s stock.

Several research firms recently commented on MTB. JPMorgan Chase & Co. raised their price target on shares of M&T Bank from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods decreased their price target on shares of M&T Bank from $189.00 to $185.00 and set an “outperform” rating for the company in a report on Friday, July 19th. Macquarie set a $158.00 price target on shares of M&T Bank and gave the stock a “sell” rating in a report on Friday, July 19th. Finally, Piper Jaffray Companies cut shares of M&T Bank from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $196.00 to $168.00 in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $176.77.

MTB traded down $2.93 during midday trading on Tuesday, hitting $156.68. 8,262 shares of the company’s stock traded hands, compared to its average volume of 608,980. The company has a market cap of $21.07 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.22 and a beta of 1.09. The stock’s fifty day simple moving average is $151.25 and its 200-day simple moving average is $162.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.06 and a quick ratio of 1.06. M&T Bank Co. has a one year low of $133.78 and a one year high of $176.11.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.34 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.36). The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. M&T Bank had a net margin of 29.81% and a return on equity of 14.26%. During the same period in the previous year, the business posted $3.26 EPS. On average, research analysts expect that M&T Bank Co. will post 13.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, August 30th. M&T Bank’s payout ratio is presently 31.10%.

In related news, EVP William J. Farrell II sold 3,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $163.82, for a total transaction of $502,927.40. Following the transaction, the executive vice president now owns 10,774 shares of the company’s stock, valued at $1,764,996.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,108 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $150.96, for a total transaction of $167,263.68. Following the transaction, the executive vice president now directly owns 1,371 shares in the company, valued at approximately $206,966.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,828 shares of company stock worth $770,668. Insiders own 0.54% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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