M&T Bank Co. (MTB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in M&T Bank Co. (NYSE:MTB) by 1.5% in the second quarter, Holdings Channel reports. The institutional investor owned 1,079,628 shares of the financial services provider’s stock after selling 16,019 shares during the period. Bank of New York Mellon Corp’s holdings in M&T Bank were worth $183,699,000 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 MTB. LPL Financial LLC increased its position in M&T Bank by 3.6% in the first quarter. LPL Financial LLC now owns 8,392 shares of the financial services provider’s stock worth $1,547,000 after buying an additional 293 shares during the last quarter. Cerebellum GP LLC purchased a new stake in M&T Bank in the second quarter worth $171,000. Gulf International Bank UK Ltd increased its position in M&T Bank by 2.7% in the second quarter. Gulf International Bank UK Ltd now owns 44,960 shares of the financial services provider’s stock worth $7,649,000 after buying an additional 1,190 shares during the last quarter. IFM Investors Pty Ltd increased its position in M&T Bank by 45.8% in the second quarter. IFM Investors Pty Ltd now owns 6,252 shares of the financial services provider’s stock worth $1,064,000 after buying an additional 1,963 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in M&T Bank by 23.7% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,608 shares of the financial services provider’s stock worth $444,000 after buying an additional 500 shares during the last quarter. 80.67% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on MTB. Keefe, Bruyette & Woods raised M&T Bank from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, September 3rd. Wedbush raised their target price on M&T Bank from $190.00 to $197.00 and gave the stock a “neutral” rating in a research report on Thursday, July 19th. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Finally, Morgan Stanley raised their price target on M&T Bank from $191.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $184.36.

In related news, Director Denis J. Salamone sold 25,209 shares of M&T Bank stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total transaction of $4,531,569.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sabeth Siddique sold 930 shares of M&T Bank stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $164.80, for a total value of $153,264.00. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

M&T Bank stock opened at $164.18 on Friday. M&T Bank Co. has a one year low of $154.33 and a one year high of $197.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 1.06. The firm has a market capitalization of $23.61 billion, a PE ratio of 17.56, a P/E/G ratio of 1.04 and a beta of 0.86.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $3.53 EPS for the quarter, topping the Zacks’ consensus estimate of $3.35 by $0.18. M&T Bank had a return on equity of 13.15% and a net margin of 26.84%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $2.21 earnings per share. Analysts anticipate that M&T Bank Co. will post 13.04 EPS for the current fiscal year.

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 retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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

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