Los Angeles Capital Management LLC Has $105.62 Million Position in M&T Bank Co. (NYSE:MTB)

Los Angeles Capital Management LLC lowered its position in shares of M&T Bank Co. (NYSE:MTB) by 19.1% in the third quarter, Holdings Channel reports. The firm owned 592,952 shares of the financial services provider’s stock after selling 140,352 shares during the period. Los Angeles Capital Management LLC’s holdings in M&T Bank were worth $105,617,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Hedeker Wealth LLC grew its stake in shares of M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after acquiring an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after acquiring an additional 57 shares in the last quarter. Crestwood Advisors Group LLC grew its stake in shares of M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its stake in shares of M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 1,590 shares of M&T Bank stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the sale, the director now owns 2,108 shares in the company, valued at $443,143.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kirk W. Walters sold 1,590 shares of M&T Bank stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the sale, the director now owns 2,108 shares in the company, valued at $443,143.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares of the company’s stock, valued at $502,184.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,438 shares of company stock worth $12,622,007. 0.82% of the stock is currently owned by insiders.

M&T Bank Trading Up 0.6 %

M&T Bank stock traded up $1.30 during mid-day trading on Friday, hitting $209.41. 939,939 shares of the stock were exchanged, compared to its average volume of 1,326,758. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $115.93 and a 12 month high of $216.84. The firm’s fifty day simple moving average is $182.71 and its two-hundred day simple moving average is $164.86. The stock has a market capitalization of $34.75 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 3.07 and a beta of 0.74.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. Analysts forecast that M&T Bank Co. will post 14.49 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.58%. M&T Bank’s payout ratio is 39.97%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTB. Citigroup increased their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Friday, October 4th. Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company increased their price objective on shares of M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $198.76.

M&T Bank Profile

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.