W.G. Shaheen & Associates DBA Whitney & Co decreased its position in M&T Bank Corp. (NYSE:MTB) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,247 shares of the company’s stock after selling 50 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in M&T Bank Corp. were worth $3,163,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Community Bank N.A. increased its position in M&T Bank Corp. by 4.9% in the third quarter. Community Bank N.A. now owns 10,632 shares of the company’s stock worth $1,234,000 after buying an additional 500 shares during the period. MSI Financial Services Inc increased its position in M&T Bank Corp. by 1.5% in the third quarter. MSI Financial Services Inc now owns 6,441 shares of the company’s stock worth $748,000 after buying an additional 97 shares during the period. Canandaigua National Bank & Trust Co. increased its position in M&T Bank Corp. by 0.7% in the third quarter. Canandaigua National Bank & Trust Co. now owns 1,763 shares of the company’s stock worth $205,000 after buying an additional 13 shares during the period. Capstone Asset Management Co. increased its position in M&T Bank Corp. by 4.4% in the third quarter. Capstone Asset Management Co. now owns 10,935 shares of the company’s stock worth $1,270,000 after buying an additional 460 shares during the period. Finally, Fenimore Asset Management Inc. increased its position in M&T Bank Corp. by 1.5% in the third quarter. Fenimore Asset Management Inc. now owns 364,087 shares of the company’s stock worth $42,271,000 after buying an additional 5,530 shares during the period. 76.96% of the stock is currently owned by institutional investors and hedge funds.

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

M&T Bank Corp. (NYSE:MTB) traded down 2.08% during midday trading on Monday, hitting $140.72. The company’s stock had a trading volume of 1,237,003 shares. The firm has a market cap of $21.82 billion, a P/E ratio of 18.88 and a beta of 0.70. The company’s 50 day moving average price is $126.70 and its 200 day moving average price is $119.04. M&T Bank Corp. has a 12 month low of $100.08 and a 12 month high of $143.99.

M&T Bank Corp. (NYSE:MTB) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $2.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.09. M&T Bank Corp. had a net margin of 22.32% and a return on equity of 8.59%. During the same quarter in the prior year, the company earned $1.93 earnings per share. Analysts expect that M&T Bank Corp. will post $7.89 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 2nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, November 30th. M&T Bank Corp.’s dividend payout ratio (DPR) is currently 37.53%.

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A number of research analysts recently weighed in on the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of M&T Bank Corp. in a research note on Saturday, November 19th. Robert W. Baird reissued an “underperform” rating on shares of M&T Bank Corp. in a report on Saturday, November 19th. FBR & Co boosted their price objective on M&T Bank Corp. from $115.00 to $120.00 and gave the stock a “mkt perform” rating in a report on Thursday, October 20th. Wedbush started coverage on M&T Bank Corp. in a report on Thursday, October 6th. They set a “neutral” rating and a $117.00 price objective for the company. Finally, Zacks Investment Research lowered M&T Bank Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $120.50.

In related news, insider D Scott N. Warman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $122.18, for a total transaction of $122,180.00. Following the completion of the sale, the insider now owns 14,307 shares of the company’s stock, valued at $1,748,029.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian E. Hickey sold 13,167 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $124.98, for a total transaction of $1,645,611.66. Following the sale, the insider now directly owns 25,055 shares of the company’s stock, valued at approximately $3,131,373.90. The disclosure for this sale can be found here. Corporate insiders own 3.63% of the company’s stock.

M&T Bank Corp. Company Profile

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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