Brown Brothers Harriman & Co. Acquires 129 Shares of M&T Bank Co. (NYSE:MTB)

Brown Brothers Harriman & Co. increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,814 shares of the financial services provider’s stock after acquiring an additional 129 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in M&T Bank were worth $501,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after purchasing an additional 190,837 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after buying an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares during the period. Bank of New York Mellon Corp raised its holdings in M&T Bank by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after acquiring an additional 44,442 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the completion of the sale, the director now directly owns 35,480 shares in the company, valued at approximately $7,715,126. This represents a 36.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,383 shares of company stock valued at $17,925,801 over the last ninety days. 0.82% of the stock is owned by company insiders.

M&T Bank Trading Down 0.5 %

Shares of NYSE MTB opened at $220.77 on Wednesday. The firm has a 50 day moving average price of $193.89 and a two-hundred day moving average price of $170.70. The stock has a market cap of $36.63 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. M&T Bank Co. has a 52-week low of $123.46 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, equities analysts forecast that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday. Evercore ISI boosted their target price on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. DA Davidson boosted their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and raised their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $203.29.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.