Schroder Investment Management Group Sells 373 Shares of M&T Bank Corporation (MTB)

Schroder Investment Management Group reduced its position in M&T Bank Corporation (NYSE:MTB) by 1.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,564 shares of the bank’s stock after selling 373 shares during the quarter. Schroder Investment Management Group’s holdings in M&T Bank Corporation were worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. boosted its holdings in shares of M&T Bank Corporation by 10.2% in the first quarter. UBS Asset Management Americas Inc. now owns 455,057 shares of the bank’s stock worth $70,411,000 after acquiring an additional 42,046 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of M&T Bank Corporation by 0.5% in the first quarter. Mutual of America Capital Management LLC now owns 18,177 shares of the bank’s stock worth $2,813,000 after acquiring an additional 95 shares during the period. Norinchukin Bank The boosted its holdings in shares of M&T Bank Corporation by 12.6% in the first quarter. Norinchukin Bank The now owns 5,419 shares of the bank’s stock worth $838,000 after acquiring an additional 605 shares during the period. Airain ltd bought a new position in shares of M&T Bank Corporation in the first quarter worth $263,000. Finally, Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of M&T Bank Corporation by 75.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 31,165 shares of the bank’s stock worth $4,822,000 after acquiring an additional 13,361 shares during the period. 78.35% of the stock is owned by institutional investors and hedge funds.

In related news, VP Michele D. Trolli sold 8,908 shares of the stock in a transaction dated 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 owns 23,091 shares of the company’s stock, valued at approximately $3,792,696.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sabeth Siddique sold 950 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total transaction of $139,811.50. Following the completion of the transaction, the insider now directly owns 1,488 shares of the company’s stock, valued at approximately $218,988.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,058 shares of company stock valued at $1,799,055. 3.18% of the stock is owned by insiders.

A number of research firms have recently commented on MTB. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $165.00 price target (down from $171.00) on shares of M&T Bank Corporation in a report on Saturday, September 16th. ValuEngine raised M&T Bank Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Wells Fargo & Company began coverage on M&T Bank Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $170.00 price target for the company. Zacks Investment Research raised M&T Bank Corporation from a “hold” rating to a “buy” rating and set a $168.00 price target for the company in a report on Tuesday. Finally, BidaskClub lowered M&T Bank Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. M&T Bank Corporation presently has a consensus rating of “Hold” and a consensus target price of $160.41.

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M&T Bank Corporation (MTB) opened at 154.56 on Thursday. The stock has a 50 day moving average price of $153.96 and a 200 day moving average price of $157.97. M&T Bank Corporation has a 12-month low of $112.25 and a 12-month high of $173.72. The stock has a market cap of $23.48 billion, a P/E ratio of 18.09 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 EPS for the quarter, beating the Zacks’ 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 the consensus estimate of $1.40 billion. During the same quarter last year, the firm earned $2.07 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts forecast that M&T Bank Corporation will post $9.27 earnings per share for the current fiscal year.

M&T Bank Corporation announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to repurchase $900.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Wednesday, August 30th. M&T Bank Corporation’s payout ratio is 35.09%.

M&T Bank Corporation Company 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.

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

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