American Asset Management Inc. increased its holdings in M&T Bank Co. (NYSE:MTB) by 5.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,795 shares of the financial services provider’s stock after buying an additional 262 shares during the period. M&T Bank comprises approximately 0.6% of American Asset Management Inc.’s investment portfolio, making the stock its 26th biggest holding. American Asset Management Inc.’s holdings in M&T Bank were worth $753,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in M&T Bank by 2.3% in the fourth quarter. BlackRock Inc. now owns 10,220,602 shares of the financial services provider’s stock worth $1,462,876,000 after purchasing an additional 234,015 shares during the last quarter. FMR LLC grew its holdings in M&T Bank by 74.1% in the fourth quarter. FMR LLC now owns 5,947,002 shares of the financial services provider’s stock worth $851,195,000 after purchasing an additional 2,532,038 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in M&T Bank by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 5,761,927 shares of the financial services provider’s stock worth $948,067,000 after purchasing an additional 43,529 shares during the last quarter. Geode Capital Management LLC grew its holdings in M&T Bank by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock worth $287,704,000 after purchasing an additional 95,142 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in M&T Bank by 1.4% in the fourth quarter. Northern Trust Corp now owns 1,500,637 shares of the financial services provider’s stock worth $214,785,000 after purchasing an additional 21,031 shares during the last quarter. 80.81% of the stock is owned by institutional investors.

MTB has been the topic of several analyst reports. Barclays reaffirmed a “buy” rating and issued a $207.00 price target on shares of M&T Bank in a report on Thursday, February 21st. Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price target on the stock in a report on Friday, January 18th. Morgan Stanley cut their price target on shares of M&T Bank from $175.00 to $173.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 8th. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Thursday, January 17th. Finally, Wedbush set a $165.00 price objective on shares of M&T Bank and gave the company a “hold” rating in a report on Friday, January 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $179.50.

In related news, Director Gary N. Geisel sold 1,001 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.00, for a total transaction of $173,173.00. Following the completion of the transaction, the director now directly owns 17,512 shares in the company, valued at $3,029,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michele D. Trolli sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.14, for a total transaction of $865,700.00. Following the transaction, the vice president now owns 10,878 shares of the company’s stock, valued at $1,883,416.92. The disclosure for this sale can be found here. Insiders have sold 17,766 shares of company stock valued at $2,977,668 over the last 90 days. 0.54% of the stock is currently owned by insiders.

Shares of MTB traded down $3.88 during trading hours on Monday, reaching $163.88. 681,465 shares of the company traded hands, compared to its average volume of 740,996. The firm has a market capitalization of $23.23 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.06 and a quick ratio of 1.06. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $188.80.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 17th. The financial services provider reported $3.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.27. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same period in the previous year, the company earned $2.66 earnings per share. As a group, research analysts anticipate that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $4.00 dividend on an annualized basis and a yield of 2.44%. M&T Bank’s dividend payout ratio is presently 31.10%.

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About M&T Bank

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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