M&T Bank Co. (NYSE:MTB) Shares Bought by Fenimore Asset Management Inc.

Fenimore Asset Management Inc. boosted its stake in M&T Bank Co. (NYSE:MTB) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 421,532 shares of the financial services provider’s stock after acquiring an additional 5,182 shares during the quarter. M&T Bank accounts for 2.4% of Fenimore Asset Management Inc.’s portfolio, making the stock its 13th largest position. Fenimore Asset Management Inc. owned approximately 0.31% of M&T Bank worth $71,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of M&T Bank by 12.5% during the 1st quarter. FMR LLC now owns 6,691,210 shares of the financial services provider’s stock worth $1,050,653,000 after acquiring an additional 744,208 shares during the period. PNC Financial Services Group Inc. increased its position in M&T Bank by 404.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 841,781 shares of the financial services provider’s stock worth $132,174,000 after purchasing an additional 674,968 shares in the last quarter. Hexavest Inc. acquired a new position in M&T Bank during the 2nd quarter worth approximately $35,588,000. BTIM Corp. increased its position in M&T Bank by 169.2% during the 1st quarter. BTIM Corp. now owns 209,640 shares of the financial services provider’s stock worth $32,918,000 after purchasing an additional 131,773 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in M&T Bank by 2,877.9% during the 1st quarter. Acadian Asset Management LLC now owns 121,737 shares of the financial services provider’s stock worth $19,118,000 after purchasing an additional 117,649 shares in the last quarter. 81.41% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Darren J. King sold 1,841 shares of M&T Bank stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $162.95, for a total value of $299,990.95. Following the transaction, the chief financial officer now directly owns 46,263 shares of the company’s stock, valued at $7,538,555.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Doris P. Meister sold 460 shares of M&T Bank stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $160.29, for a total transaction of $73,733.40. Following the completion of the transaction, the insider now directly owns 1,553 shares in the company, valued at $248,930.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,479 shares of company stock valued at $1,043,915. 0.54% of the stock is currently owned by company insiders.

Several equities analysts have issued reports on MTB shares. UBS Group decreased their price target on shares of M&T Bank from $176.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Macquarie set a $158.00 price target on shares of M&T Bank and gave the company a “sell” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on shares of M&T Bank from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Barclays decreased their price objective on shares of M&T Bank from $217.00 to $206.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Finally, Piper Jaffray Companies cut shares of M&T Bank from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $196.00 to $168.00 in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. M&T Bank currently has a consensus rating of “Hold” and an average price target of $176.77.

MTB opened at $144.67 on Friday. M&T Bank Co. has a fifty-two week low of $133.78 and a fifty-two week high of $180.77. The company’s 50-day moving average is $163.87 and its 200 day moving average is $165.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $20.23 billion, a P/E ratio of 11.25, a PEG ratio of 2.12 and a beta of 1.05.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.34 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.36). M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business earned $3.26 EPS. On average, equities research analysts expect that M&T Bank Co. will post 13.89 earnings per share for the current 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 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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