Trading Report: Today, First Trust Advisors LP invests in M&T Bank Corp. (MTB) Shares

Today, First Trust Advisors LP invests in M&T Bank Corp. (MTB) Shares

First Trust Advisors LP raised its position in shares of M&T Bank Corp. (NYSE:MTB) by 10.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173,151 shares of the company’s stock after buying an additional 16,448 shares during the period. First Trust Advisors LP owned 0.11% of M&T Bank Corp. worth $20,103,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Fenimore Asset Management Inc. boosted its stake in M&T Bank Corp. by 4.1% in the second quarter. Fenimore Asset Management Inc. now owns 358,557 shares of the company’s stock worth $42,392,000 after buying an additional 14,180 shares during the period. First United Bank Trust boosted its stake in M&T Bank Corp. by 8.1% in the second quarter. First United Bank Trust now owns 4,434 shares of the company’s stock worth $524,000 after buying an additional 333 shares during the period. Vontobel Asset Management Inc. acquired a new stake in M&T Bank Corp. during the second quarter worth approximately $22,870,000. FirstMerit Bank N A Trustee boosted its stake in M&T Bank Corp. by 1.4% in the second quarter. FirstMerit Bank N A Trustee now owns 20,154 shares of the company’s stock worth $2,383,000 after buying an additional 272 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in M&T Bank Corp. by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 139,406 shares of the company’s stock worth $16,482,000 after buying an additional 1,585 shares during the period. Institutional investors own 80.24% of the company’s stock.

Shares of M&T Bank Corp. (NYSE:MTB) traded up 0.10% during trading on Friday, reaching $143.71. The company’s stock had a trading volume of 324,676 shares. M&T Bank Corp. has a 52 week low of $100.08 and a 52 week high of $143.99. The company has a 50 day moving average price of $126.05 and a 200 day moving average price of $118.81. The firm has a market capitalization of $22.28 billion, a P/E ratio of 19.28 and a beta of 0.70.

M&T Bank Corp. (NYSE:MTB) last posted its earnings results on Wednesday, October 19th. The company reported $2.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.09. M&T Bank Corp. had a return on equity of 8.59% and a net margin of 22.32%. During the same period in the prior year, the company posted $1.93 earnings per share. On average, equities research analysts expect that M&T Bank Corp. will post $7.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 2nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Wednesday, November 30th. M&T Bank Corp.’s payout ratio is currently 37.53%.

MTB has been the topic of a number of research reports. Sanford C. Bernstein reissued a “market perform” rating on shares of M&T Bank Corp. in a report on Saturday, November 19th. Robert W. Baird reissued an “underperform” rating on shares of M&T Bank Corp. in a report on Saturday, November 19th. Wedbush initiated coverage on M&T Bank Corp. in a report on Thursday, October 6th. They issued a “neutral” rating and a $117.00 price objective on the stock. FBR & Co increased their price objective on M&T Bank Corp. from $115.00 to $120.00 and gave the company a “mkt perform” rating in a report on Thursday, October 20th. Finally, Barclays PLC reissued a “buy” rating on shares of M&T Bank Corp. in a report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $120.50.

In other news, insider Michael J. Todaro sold 13,101 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $141.68, for a total value of $1,856,149.68. Following the completion of the sale, the insider now directly owns 15,155 shares of the company’s stock, valued at approximately $2,147,160.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D Scott N. Warman sold 1,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $122.18, for a total value of $122,180.00. Following the completion of the sale, the insider now directly owns 14,307 shares of the company’s stock, valued at $1,748,029.26. The disclosure for this sale can be found here. 3.63% of the stock is owned by insiders.

About M&T Bank Corp.

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