Baillie Gifford & Co. lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,766 shares of the financial services provider’s stock after selling 7,527 shares during the quarter. Baillie Gifford & Co.’s holdings in M&T Bank were worth $13,850,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MTB. Robeco Institutional Asset Management B.V. boosted its stake in shares of M&T Bank by 120.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 56,132 shares of the financial services provider’s stock worth $9,236,000 after acquiring an additional 30,667 shares during the period. Victory Capital Management Inc. boosted its stake in shares of M&T Bank by 35.1% during the 3rd quarter. Victory Capital Management Inc. now owns 28,295 shares of the financial services provider’s stock worth $4,656,000 after acquiring an additional 7,345 shares during the period. Chicago Equity Partners LLC bought a new position in shares of M&T Bank during the 3rd quarter worth approximately $365,000. Global Financial Private Capital LLC boosted its stake in shares of M&T Bank by 44.4% during the 3rd quarter. Global Financial Private Capital LLC now owns 3,146 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 968 shares during the period. Finally, Lincoln National Corp bought a new position in shares of M&T Bank during the 3rd quarter worth approximately $205,000. Institutional investors own 78.95% of the company’s stock.

Several analysts recently weighed in on MTB shares. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Barclays dropped their price target on M&T Bank from $210.00 to $203.00 and set an “overweight” rating for the company in a report on Wednesday, January 2nd. Morgan Stanley dropped their price target on M&T Bank from $175.00 to $173.00 and set an “equal weight” rating for the company in a report on Tuesday, January 8th. UBS Group raised M&T Bank from a “sell” rating to a “neutral” rating in a report on Tuesday, January 8th. Finally, Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a report on Friday, January 18th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $180.27.

NYSE:MTB opened at $173.33 on Friday. The company has a market cap of $23.59 billion, a P/E ratio of 13.48, a PEG ratio of 0.88 and a beta of 1.07. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank Co. has a 1-year low of $133.78 and a 1-year high of $192.35.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 17th. The financial services provider reported $3.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.49 by $0.27. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. M&T Bank had a return on equity of 14.24% and a net margin of 29.72%. During the same period last year, the firm posted $2.66 EPS. As a group, equities research analysts forecast that M&T Bank Co. will post 14.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $4.00 annualized dividend and a yield of 2.31%. M&T Bank’s dividend payout ratio is presently 31.10%.

In other M&T Bank news, Director Gary N. Geisel sold 1,001 shares of M&T Bank stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.00, for a total value of $173,173.00. Following the completion of the transaction, the director now directly owns 17,512 shares of the company’s stock, valued at approximately $3,029,576. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Darren J. King sold 10,000 shares of M&T Bank stock in a transaction on Friday, February 1st. The shares were sold at an average price of $164.56, for a total value of $1,645,600.00. The disclosure for this sale can be found here. Insiders sold a total of 12,766 shares of company stock valued at $2,111,968 over the last ninety days. Insiders own 0.54% of the company’s stock.

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M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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