TD Asset Management Inc Has $7.45 Million Holdings in M&T Bank Co. (NYSE:MTB)

TD Asset Management Inc cut its stake in M&T Bank Co. (NYSE:MTB) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,178 shares of the financial services provider’s stock after selling 2,315 shares during the period. TD Asset Management Inc’s holdings in M&T Bank were worth $7,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in M&T Bank by 35.2% in the 1st quarter. Wellington Management Group LLP now owns 15,153,301 shares of the financial services provider’s stock worth $1,811,880,000 after purchasing an additional 3,945,773 shares during the period. Vanguard Group Inc. boosted its stake in M&T Bank by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,607,431 shares of the financial services provider’s stock worth $2,475,959,000 after purchasing an additional 316,266 shares during the period. BlackRock Inc. boosted its stake in shares of M&T Bank by 0.8% during the 1st quarter. BlackRock Inc. now owns 13,106,150 shares of the financial services provider’s stock worth $1,567,102,000 after buying an additional 108,068 shares during the last quarter. FMR LLC boosted its stake in shares of M&T Bank by 1.1% during the 1st quarter. FMR LLC now owns 7,994,434 shares of the financial services provider’s stock worth $955,894,000 after buying an additional 87,768 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of M&T Bank by 0.7% during the 1st quarter. State Street Corp now owns 7,985,096 shares of the financial services provider’s stock worth $954,778,000 after buying an additional 55,623 shares during the last quarter. 82.86% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Up 0.2 %

M&T Bank stock opened at $126.94 on Tuesday. The stock has a market cap of $21.07 billion, a P/E ratio of 7.32, a P/E/G ratio of 0.86 and a beta of 0.84. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.29. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $172.59. The company’s 50-day moving average price is $121.64 and its two-hundred day moving average price is $125.08.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $3.98 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.10. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $2.32 billion. M&T Bank had a net margin of 24.81% and a return on equity of 13.13%. During the same period in the prior year, the firm earned $3.83 EPS. As a group, analysts expect that M&T Bank Co. will post 15.98 EPS for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $5.20 annualized dividend and a yield of 4.10%. M&T Bank’s dividend payout ratio is currently 30.01%.

Analyst Ratings Changes

A number of research firms have recently commented on MTB. Wedbush reduced their price objective on shares of M&T Bank from $147.00 to $140.00 and set an “outperform” rating for the company in a research note on Thursday, October 19th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday. Odeon Capital Group downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $133.65 price objective for the company. in a research note on Friday, September 29th. Royal Bank of Canada reduced their price objective on shares of M&T Bank from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, September 11th. Finally, Jefferies Financial Group reduced their price objective on shares of M&T Bank from $136.00 to $130.00 in a research note on Tuesday, October 10th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $148.62.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $110.58, for a total transaction of $110,580.00. Following the transaction, the executive vice president now owns 6,055 shares in the company, valued at approximately $669,561.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $110.58, for a total transaction of $110,580.00. Following the transaction, the executive vice president now owns 6,055 shares in the company, valued at approximately $669,561.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daryl N. Bible bought 5,000 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were acquired at an average price of $111.04 per share, for a total transaction of $555,200.00. Following the transaction, the chief financial officer now owns 32,876 shares in the company, valued at $3,650,551.04. The disclosure for this purchase can be found here. Insiders own 0.97% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.