Brooklyn Investment Group Invests $91,000 in M&T Bank Co. (NYSE:MTB)

Brooklyn Investment Group acquired a new stake in M&T Bank Co. (NYSE:MTB) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 510 shares of the financial services provider’s stock, valued at approximately $91,000.

A number of other hedge funds have also recently bought and sold shares of MTB. FMR LLC lifted its holdings in M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after acquiring an additional 1,508,846 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after buying an additional 190,837 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in M&T Bank by 4.8% in 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after buying an additional 93,113 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of M&T Bank by 3.0% during 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 during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This represents a 18.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares in the company, valued at approximately $14,972,576.88. The trade was a 23.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,383 shares of company stock worth $17,925,801 in the last 90 days. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MTB shares. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Evercore ISI boosted their price objective 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. DA Davidson increased their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $206.41.

M&T Bank Trading Up 0.0 %

NYSE:MTB opened at $220.80 on Friday. The company’s 50 day moving average is $195.64 and its 200-day moving average is $171.40. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $123.46 and a 12 month high of $225.70. The firm has a market cap of $36.64 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 3.13 and a beta of 0.74.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. Equities analysts anticipate that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Announces Dividend

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

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.