2,708 Shares in M&T Bank Co. (NYSE:MTB) Bought by Zebra Capital Management LLC

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Zebra Capital Management LLC purchased a new position in M&T Bank Co. (NYSE:MTB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,708 shares of the financial services provider’s stock, valued at approximately $461,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC increased its position in shares of M&T Bank by 12.5% in the first quarter. FMR LLC now owns 6,691,210 shares of the financial services provider’s stock worth $1,050,653,000 after purchasing an additional 744,208 shares during the period. Geode Capital Management LLC grew its position in M&T Bank by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock valued at $287,704,000 after acquiring an additional 95,142 shares during the last quarter. Wells Fargo & Company MN grew its position in M&T Bank by 1.5% in the second quarter. Wells Fargo & Company MN now owns 1,635,419 shares of the financial services provider’s stock valued at $278,136,000 after acquiring an additional 24,948 shares during the last quarter. Northern Trust Corp grew its position in M&T Bank by 2.0% in the second quarter. Northern Trust Corp now owns 1,548,635 shares of the financial services provider’s stock valued at $263,376,000 after acquiring an additional 30,412 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in M&T Bank by 404.6% in the first quarter. PNC Financial Services Group Inc. now owns 841,781 shares of the financial services provider’s stock valued at $132,174,000 after acquiring an additional 674,968 shares during the last quarter. Institutional investors own 82.08% of the company’s stock.

Shares of MTB stock traded down $2.69 during mid-day trading on Thursday, reaching $156.75. 50,926 shares of the stock traded hands, compared to its average volume of 606,484. The stock’s fifty day simple moving average is $150.98 and its two-hundred day simple moving average is $162.54. M&T Bank Co. has a 1-year low of $133.78 and a 1-year high of $176.11. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.34 EPS for the quarter, missing the Zacks’ consensus estimate of $3.70 by ($0.36). M&T Bank had a net margin of 29.81% and a return on equity of 14.26%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business posted $3.26 earnings per share. On average, equities research analysts anticipate that M&T Bank Co. will post 13.88 EPS for the current fiscal year.

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

A number of research analysts have issued reports on the company. Zacks Investment Research cut M&T Bank from a “hold” rating to a “sell” rating and set a $166.00 target price on the stock. in a research report on Wednesday. Piper Jaffray Companies cut M&T Bank from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $196.00 to $168.00 in a research report on Monday, July 22nd. Macquarie set a $158.00 target price on M&T Bank and gave the company a “sell” rating in a research report on Friday, July 19th. UBS Group decreased their target price on M&T Bank from $176.00 to $172.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods decreased their target price on M&T Bank from $189.00 to $185.00 and set an “outperform” rating on the stock in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $175.77.

In related news, EVP Doris P. Meister sold 1,108 shares of M&T Bank stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $150.96, for a total value of $167,263.68. Following the transaction, the executive vice president now directly owns 1,371 shares of the company’s stock, valued at $206,966.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John L. Dangelo sold 650 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $154.58, for a total value of $100,477.00. Following the completion of the transaction, the executive vice president now directly owns 3,016 shares in the company, valued at $466,213.28. The disclosure for this sale can be found here. Insiders have sold 4,828 shares of company stock worth $770,668 over the last three months. Insiders own 0.54% of the company’s stock.

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 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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