HPM Partners LLC acquired a new position in shares of M&T Bank Corporation (NYSE:MTB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,680 shares of the bank’s stock, valued at approximately $434,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eaton Vance Management increased its holdings in shares of M&T Bank Corporation by 7.9% during the second quarter. Eaton Vance Management now owns 49,046 shares of the bank’s stock worth $7,943,000 after buying an additional 3,572 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of M&T Bank Corporation by 4.9% during the second quarter. Commonwealth Bank of Australia now owns 2,117 shares of the bank’s stock worth $342,000 after buying an additional 99 shares in the last quarter. Tredje AP fonden increased its holdings in shares of M&T Bank Corporation by 29.9% during the second quarter. Tredje AP fonden now owns 17,918 shares of the bank’s stock worth $2,915,000 after buying an additional 4,129 shares in the last quarter. QCI Asset Management Inc. NY increased its holdings in shares of M&T Bank Corporation by 0.3% during the second quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock worth $171,000 after buying an additional 3 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of M&T Bank Corporation by 0.4% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,172 shares of the bank’s stock worth $77,116,000 after buying an additional 2,097 shares in the last quarter. 78.40% of the stock is owned by institutional investors.

In other M&T Bank Corporation news, VP Michele D. Trolli sold 8,908 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $164.25, for a total value of $1,463,139.00. Following the completion of the transaction, the vice president now directly owns 23,091 shares in the company, valued at approximately $3,792,696.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert J. Bojdak sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $163.42, for a total transaction of $196,104.00. Following the completion of the transaction, the insider now owns 20,217 shares of the company’s stock, valued at $3,303,862.14. The disclosure for this sale can be found here. Corporate insiders own 3.18% of the company’s stock.

Several analysts have recently weighed in on MTB shares. Zacks Investment Research lowered shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 19th. BidaskClub lowered shares of M&T Bank Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $155.00 price objective (up previously from $152.00) on shares of M&T Bank Corporation in a report on Friday, July 7th. Keefe, Bruyette & Woods set a $160.00 price objective on shares of M&T Bank Corporation and gave the stock a “hold” rating in a report on Monday, June 19th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $168.00 price objective on shares of M&T Bank Corporation in a report on Friday, August 18th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $161.00.

M&T Bank Corporation (NYSE MTB) opened at 144.07 on Monday. M&T Bank Corporation has a 52 week low of $112.25 and a 52 week high of $173.72. The firm has a 50-day moving average of $155.96 and a 200-day moving average of $159.04. The company has a market capitalization of $21.89 billion, a PE ratio of 16.86 and a beta of 0.79.

M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $2.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.08. M&T Bank Corporation had a net margin of 24.10% and a return on equity of 9.48%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company posted $2.07 EPS. The company’s revenue was up 6.6% on a year-over-year basis. Equities analysts expect that M&T Bank Corporation will post $9.27 earnings per share for the current fiscal year.

M&T Bank Corporation declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $900.00 million in shares. This repurchase authorization allows the bank to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, August 30th. M&T Bank Corporation’s dividend payout ratio (DPR) is currently 35.09%.

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M&T Bank Corporation Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

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

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