Aberdeen Asset Management PLC UK reduced its stake in M&T Bank Corp. (NYSE:MTB) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,520,616 shares of the company’s stock after selling 420,734 shares during the period. M&T Bank Corp. comprises approximately 1.5% of Aberdeen Asset Management PLC UK’s portfolio, making the stock its 18th largest position. Aberdeen Asset Management PLC UK owned about 2.23% of M&T Bank Corp. worth $416,242,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. LS Investment Advisors LLC increased its stake in M&T Bank Corp. by 1.2% in the second quarter. LS Investment Advisors LLC now owns 7,508 shares of the company’s stock valued at $888,000 after buying an additional 91 shares in the last quarter. First National Trust Co. increased its stake in M&T Bank Corp. by 1.8% in the second quarter. First National Trust Co. now owns 5,650 shares of the company’s stock valued at $668,000 after buying an additional 100 shares in the last quarter. Roberts Glore & Co. Inc. IL increased its stake in M&T Bank Corp. by 0.8% in the second quarter. Roberts Glore & Co. Inc. IL now owns 12,651 shares of the company’s stock valued at $1,496,000 after buying an additional 101 shares in the last quarter. Trust Co. of Vermont increased its stake in M&T Bank Corp. by 1.2% in the second quarter. Trust Co. of Vermont now owns 10,715 shares of the company’s stock valued at $1,267,000 after buying an additional 122 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co increased its stake in M&T Bank Corp. by 0.6% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 27,297 shares of the company’s stock valued at $3,227,000 after buying an additional 150 shares in the last quarter. 79.50% of the stock is owned by institutional investors.

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

M&T Bank Corp. (NYSE:MTB) traded up 2.21% during midday trading on Wednesday, hitting $117.82. 944,831 shares of the stock traded hands. The stock has a market capitalization of $18.47 billion, a PE ratio of 16.20 and a beta of 0.75. M&T Bank Corp. has a 12-month low of $100.08 and a 12-month high of $127.39. The firm’s 50 day moving average is $116.15 and its 200-day moving average is $116.15.

M&T Bank Corp. (NYSE:MTB) last released its quarterly earnings data on Wednesday, October 19th. The company reported $2.13 EPS for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.09. M&T Bank Corp. had a net margin of 22.07% and a return on equity of 8.58%. During the same quarter in the previous year, the business earned $1.93 earnings per share. On average, analysts anticipate that M&T Bank Corp. will post $7.96 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 1st were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, August 30th. This represents a $2.80 dividend on an annualized basis and a yield of 2.43%. M&T Bank Corp.’s dividend payout ratio (DPR) is 38.41%.

Several research firms have commented on MTB. Nomura downgraded shares of M&T Bank Corp. to a “hold” rating in a research report on Saturday, July 9th. Wells Fargo & Co. reissued a “hold” rating on shares of M&T Bank Corp. in a research report on Saturday, July 9th. Deutsche Bank AG reissued a “hold” rating on shares of M&T Bank Corp. in a research report on Sunday, June 26th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $119.00 target price (down from $121.00) on shares of M&T Bank Corp. in a research report on Tuesday, July 5th. Finally, Zacks Investment Research raised shares of M&T Bank Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $137.48.

In other M&T Bank Corp. news, VP Drew J. Pfirrman sold 3,920 shares of M&T Bank Corp. stock in a transaction on Monday, August 1st. The shares were sold at an average price of $114.44, for a total transaction of $448,604.80. Following the completion of the transaction, the vice president now directly owns 3,590 shares of the company’s stock, valued at $410,839.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert G. Wilmers sold 39,637 shares of M&T Bank Corp. stock in a transaction on Monday, August 29th. The stock was sold at an average price of $118.38, for a total transaction of $4,692,228.06. Following the transaction, the chief executive officer now directly owns 2,490,996 shares of the company’s stock, valued at $294,884,106.48. The disclosure for this sale can be found here. Company insiders own 3.63% of the company’s stock.

About M&T Bank Corp.

M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.

5 Day Chart for NYSE:MTB

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