Thrivent Financial For Lutherans raised its holdings in M&T Bank Corporation (NYSE:MTB) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,566 shares of the bank’s stock after purchasing an additional 2,970 shares during the period. Thrivent Financial For Lutherans owned 0.22% of M&T Bank Corporation worth $54,507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of M&T Bank Corporation by 2,979.3% in the first quarter. BlackRock Inc. now owns 10,159,175 shares of the bank’s stock worth $1,571,928,000 after purchasing an additional 9,829,252 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of M&T Bank Corporation by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 5,672,025 shares of the bank’s stock worth $877,633,000 after purchasing an additional 114,924 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of M&T Bank Corporation by 8.4% in the first quarter. Geode Capital Management LLC now owns 1,512,637 shares of the bank’s stock worth $233,725,000 after purchasing an additional 116,992 shares in the last quarter. Aristotle Capital Management LLC increased its stake in shares of M&T Bank Corporation by 1.4% in the first quarter. Aristotle Capital Management LLC now owns 1,405,059 shares of the bank’s stock worth $217,405,000 after purchasing an additional 19,223 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of M&T Bank Corporation by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 785,808 shares of the bank’s stock worth $121,600,000 after purchasing an additional 30,552 shares in the last quarter. Hedge funds and other institutional investors own 78.40% of the company’s stock.

Shares of M&T Bank Corporation (MTB) traded up 0.05% during midday trading on Friday, reaching $149.99. 1,566,307 shares of the company’s stock traded hands. M&T Bank Corporation has a one year low of $112.25 and a one year high of $173.72. The firm has a market capitalization of $22.79 billion, a PE ratio of 17.56 and a beta of 0.79. The stock’s 50-day moving average price is $154.51 and its 200 day moving average price is $158.35.

M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $2.07 EPS. The company’s revenue was up 6.6% on a year-over-year basis. On average, equities research 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 has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, August 30th. M&T Bank Corporation’s dividend payout ratio (DPR) is currently 35.09%.

Several research firms have recently weighed in on MTB. Instinet reiterated a “neutral” rating and issued a $144.00 target price on shares of M&T Bank Corporation in a research note on Wednesday, July 12th. BidaskClub upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $174.00 to $186.00 in a research note on Tuesday, July 11th. Zacks Investment Research downgraded shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Macquarie downgraded shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. M&T Bank Corporation has an average rating of “Hold” and a consensus price target of $161.24.

In other M&T Bank Corporation news, insider Robert J. Bojdak sold 1,200 shares of the 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 sale, the insider now directly owns 20,217 shares of the company’s stock, valued at approximately $3,303,862.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sabeth Siddique sold 950 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total transaction of $139,811.50. Following the sale, the insider now directly owns 1,488 shares of the company’s stock, valued at $218,988.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,058 shares of company stock valued at $1,799,055. Insiders own 3.18% of the company’s stock.

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About M&T Bank Corporation

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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