Aptus Capital Advisors LLC Invests $208,000 in M&T Bank Co. (NYSE:MTB)

Aptus Capital Advisors LLC acquired a new stake in M&T Bank Co. (NYSE:MTBFree Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,642 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in M&T Bank by 1.3% in the first quarter. Vanguard Group Inc. now owns 48,056,301 shares of the financial services provider’s stock valued at $960,645,000 after purchasing an additional 595,930 shares during the last quarter. BlackRock Inc. grew its stake in M&T Bank by 1.1% in the first quarter. BlackRock Inc. now owns 36,670,981 shares of the financial services provider’s stock valued at $733,054,000 after acquiring an additional 402,530 shares during the period. State Street Corp grew its stake in M&T Bank by 0.7% in the first quarter. State Street Corp now owns 7,985,096 shares of the financial services provider’s stock valued at $954,778,000 after acquiring an additional 55,623 shares during the period. JPMorgan Chase & Co. grew its stake in M&T Bank by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 6,095,725 shares of the financial services provider’s stock valued at $728,866,000 after acquiring an additional 571,869 shares during the period. Finally, Virtu Financial LLC grew its stake in M&T Bank by 17,405.3% in the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after acquiring an additional 5,243,349 shares during the period. Institutional investors own 82.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MTB shares. UBS Group boosted their target price on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Barclays upped their price objective on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. DA Davidson reduced their price objective on M&T Bank from $163.00 to $159.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Wedbush reduced their price objective on M&T Bank from $147.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, October 19th. Finally, StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $149.71.

Read Our Latest Report on M&T Bank

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 29,004 shares of M&T Bank stock in a transaction on Friday, December 1st. The stock was sold at an average price of $130.00, for a total value of $3,770,520.00. Following the transaction, the director now owns 7,088 shares in the company, valued at approximately $921,440. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John P. Barnes sold 32,940 shares of M&T Bank stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $132.80, for a total value of $4,374,432.00. Following the transaction, the director now owns 34,545 shares in the company, valued at approximately $4,587,576. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 29,004 shares of M&T Bank stock in a transaction on Friday, December 1st. The shares were sold at an average price of $130.00, for a total value of $3,770,520.00. Following the completion of the transaction, the director now owns 7,088 shares in the company, valued at approximately $921,440. The disclosure for this sale can be found here. Insiders sold 80,122 shares of company stock valued at $10,561,048 in the last three months. Corporate insiders own 0.97% of the company’s stock.

M&T Bank Price Performance

NYSE:MTB opened at $136.73 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.93 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $136.43 and its two-hundred day moving average price is $129.23. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 1.14 and a beta of 0.80. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $161.99.

M&T Bank (NYSE:MTBGet Free Report) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.36). The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same period in the previous year, the business posted $4.57 earnings per share. On average, analysts anticipate that M&T Bank Co. will post 14.34 earnings per share for the current year.

About M&T Bank

(Free Report)

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.

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

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