M&T Bank Corporation (MTB) Position Lowered by FDx Advisors Inc.

FDx Advisors Inc. cut its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 35.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,321 shares of the bank’s stock after selling 6,785 shares during the period. FDx Advisors Inc.’s holdings in M&T Bank Corporation were worth $1,984,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. QCI Asset Management Inc. NY boosted its position 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 valued at $171,000 after buying an additional 3 shares during the last quarter. NGAM Advisors L.P. boosted its position in shares of M&T Bank Corporation by 0.4% during the second quarter. NGAM Advisors L.P. now owns 15,523 shares of the bank’s stock valued at $2,514,000 after buying an additional 57 shares during the last quarter. Mosaic Family Wealth LLC boosted its position in M&T Bank Corporation by 5.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock worth $198,000 after purchasing an additional 62 shares during the last quarter. Boston Private Wealth LLC boosted its position in M&T Bank Corporation by 2.6% in the second quarter. Boston Private Wealth LLC now owns 2,681 shares of the bank’s stock worth $434,000 after purchasing an additional 67 shares during the last quarter. Finally, Stanley Laman Group Ltd. boosted its position in M&T Bank Corporation by 2.9% in the second quarter. Stanley Laman Group Ltd. now owns 3,316 shares of the bank’s stock worth $537,000 after purchasing an additional 94 shares during the last quarter. 79.28% of the stock is currently owned by institutional investors.

In other M&T Bank Corporation news, VP Michele D. Trolli sold 9,730 shares of M&T Bank Corporation stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $167.89, for a total value of $1,633,569.70. Following the sale, the vice president now owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Randolph Michael Kasum sold 800,000 shares of M&T Bank Corporation stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $0.08, for a total value of $64,000.00. In the last ninety days, insiders acquired 1,053,000 shares of company stock worth $89,640 and sold 1,779,680 shares worth $1,912,181. Insiders own 3.18% of the company’s stock.

Several research analysts have issued reports on MTB shares. Robert W. Baird reissued a “sell” rating and issued a $145.00 target price on shares of M&T Bank Corporation in a research report on Friday, October 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $167.00 target price on shares of M&T Bank Corporation in a research report on Friday, July 21st. Nomura raised their target price on M&T Bank Corporation from $145.00 to $162.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Citigroup Inc. reissued a “neutral” rating and issued a $170.00 target price (up from $160.00) on shares of M&T Bank Corporation in a research report on Monday, October 9th. Finally, Macquarie cut M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research report on Friday, August 4th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. M&T Bank Corporation has an average rating of “Hold” and a consensus target price of $161.89.

M&T Bank Corporation (NYSE MTB) traded down $1.51 during trading hours on Monday, reaching $157.10. The company’s stock had a trading volume of 726,900 shares, compared to its average volume of 759,423. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. M&T Bank Corporation has a 1-year low of $132.70 and a 1-year high of $173.72. The company has a market cap of $23,645.97, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 1.91 and a beta of 0.85.

M&T Bank Corporation (NYSE:MTB) last released its quarterly earnings data on Wednesday, October 18th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). M&T Bank Corporation had a return on equity of 9.52% and a net margin of 23.97%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm earned $2.10 EPS. equities research analysts expect that M&T Bank Corporation will post 9.1 EPS for the current fiscal year.

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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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