MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Holdings in M&T Bank Co. (NYSE:MTB)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its holdings in M&T Bank Co. (NYSE:MTB) by 17.1% in the third quarter, HoldingsChannel.com reports. The firm owned 245,967 shares of the financial services provider’s stock after selling 50,649 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in M&T Bank were worth $43,812,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Meeder Advisory Services Inc. grew its position in shares of M&T Bank by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 70 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of M&T Bank by 1.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 70 shares in the last quarter. Umpqua Bank raised its position in shares of M&T Bank by 5.3% during the 2nd quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 73 shares during the last quarter. Finally, Fulton Bank N.A. lifted its stake in M&T Bank by 2.3% in the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 3.4 %

Shares of M&T Bank stock opened at $185.19 on Monday. The stock has a 50 day moving average of $169.88 and a 200 day moving average of $157.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $30.90 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 3.27 and a beta of 0.75. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $185.98.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business posted $5.12 EPS. As a group, research analysts predict that M&T Bank Co. will post 14.16 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MTB. Keefe, Bruyette & Woods increased their target price on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Royal Bank of Canada increased their price objective on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company cut shares of M&T Bank from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $170.00 to $165.00 in a research note on Thursday, August 15th. Morgan Stanley increased their target price on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, DA Davidson boosted their price target on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $185.75.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.