First Eagle Investment Management LLC lowered its position in M&T Bank Corp. (NYSE:MTB) by 11.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,736 shares of the company’s stock after selling 6,390 shares during the period. First Eagle Investment Management LLC’s holdings in M&T Bank Corp. were worth $6,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Euclid Advisors LLC acquired a new position in shares of M&T Bank Corp. during the second quarter worth approximately $128,000. NEXT Financial Group Inc raised its position in shares of M&T Bank Corp. by 36.5% in the second quarter. NEXT Financial Group Inc now owns 1,096 shares of the company’s stock worth $129,000 after buying an additional 293 shares during the period. Investment Counselors of Maryland LLC raised its position in shares of M&T Bank Corp. by 3.5% in the second quarter. Investment Counselors of Maryland LLC now owns 1,484 shares of the company’s stock worth $175,000 after buying an additional 50 shares during the period. Alpha Windward LLC raised its position in shares of M&T Bank Corp. by 1.1% in the third quarter. Alpha Windward LLC now owns 1,592 shares of the company’s stock worth $185,000 after buying an additional 17 shares during the period. Finally, Global X Management Co. LLC raised its position in shares of M&T Bank Corp. by 99.3% in the second quarter. Global X Management Co. LLC now owns 1,694 shares of the company’s stock worth $200,000 after buying an additional 844 shares during the period. Institutional investors own 76.96% of the company’s stock.

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

Shares of M&T Bank Corp. (NYSE:MTB) traded up 2.75% during trading on Wednesday, hitting $143.94. The stock had a trading volume of 1,245,145 shares. The stock has a 50 day moving average price of $126.70 and a 200-day moving average price of $119.04. M&T Bank Corp. has a one year low of $100.08 and a one year high of $144.38. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 19.31 and a beta of 0.70.

M&T Bank Corp. (NYSE:MTB) last released its quarterly earnings results on Wednesday, October 19th. The company reported $2.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.09. M&T Bank Corp. had a return on equity of 8.59% and a net margin of 22.32%. During the same quarter in the previous year, the company posted $1.93 earnings per share. On average, equities research analysts predict that M&T Bank Corp. will post $7.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 2nd will be issued a $0.70 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $2.80 annualized dividend and a yield of 1.99%. M&T Bank Corp.’s dividend payout ratio is presently 37.53%.

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A number of brokerages have recently commented on MTB. upped their price target on M&T Bank Corp. from $128.00 to $129.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Robert W. Baird reiterated an “underperform” rating on shares of M&T Bank Corp. in a report on Saturday, November 19th. Barclays PLC reiterated a “buy” rating on shares of M&T Bank Corp. in a report on Friday, August 12th. Zacks Investment Research cut M&T Bank Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of M&T Bank Corp. in a research report on Saturday, November 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $121.56.

In other M&T Bank Corp. news, CFO Darren J. King sold 8,762 shares of M&T Bank Corp. stock in a transaction on Monday, November 7th. The stock was sold at an average price of $123.01, for a total value of $1,077,813.62. Following the completion of the transaction, the chief financial officer now directly owns 17,983 shares of the company’s stock, valued at approximately $2,212,088.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rene F. Jones sold 15,740 shares of M&T Bank Corp. stock in a transaction on Monday, November 7th. The shares were sold at an average price of $124.31, for a total value of $1,956,639.40. Following the completion of the transaction, the executive vice president now directly owns 61,474 shares of the company’s stock, valued at $7,641,832.94. The disclosure for this sale can be found here. 3.63% of the stock is owned by company insiders.

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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