Sheaff Brock Investment Advisors LLC Boosts Holdings in M&T Bank Co. (NYSE:MTB)

Sheaff Brock Investment Advisors LLC raised its holdings in M&T Bank Co. (NYSE:MTB) by 24.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,125 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in M&T Bank were worth $913,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in shares of M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Canoe Financial LP raised its position in shares of M&T Bank by 29.4% during the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock worth $103,200,000 after purchasing an additional 133,748 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of M&T Bank by 17,784.1% during the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after purchasing an additional 109,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 93,113 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Up 0.7 %

Shares of NYSE MTB opened at $214.74 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $35.63 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.98 and a beta of 0.74. The company has a 50 day simple moving average of $187.11 and a 200-day simple moving average of $167.05. M&T Bank Co. has a 1 year low of $123.37 and a 1 year high of $216.84.

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, topping analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, equities research analysts predict that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.51%. M&T Bank’s payout ratio is currently 39.97%.

Insider Buying and Selling

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’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 completion of the transaction, the insider now owns 40,502 shares of the company’s stock, valued at $7,933,531.76. This trade represents a 15.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at $14,972,576.88. This represents a 23.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,854 shares of company stock valued at $13,637,588. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MTB. Royal Bank of Canada upped 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. The Goldman Sachs Group increased their price objective on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Morgan Stanley increased their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Citigroup increased their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $199.65.

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.