Victory Capital Management Inc. Acquires 759 Shares of M&T Bank Corporation (MTB)

Victory Capital Management Inc. raised its stake in M&T Bank Corporation (NYSE:MTB) by 7.3% during the first quarter, Holdings Channel reports. The firm owned 11,114 shares of the bank’s stock after buying an additional 759 shares during the period. Victory Capital Management Inc.’s holdings in M&T Bank Corporation were worth $1,720,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTB. Buffington Mohr McNeal raised its position in M&T Bank Corporation by 33.9% in the first quarter. Buffington Mohr McNeal now owns 6,010 shares of the bank’s stock valued at $930,000 after buying an additional 1,520 shares during the period. WealthTrust Axiom LLC acquired a new position in M&T Bank Corporation during the first quarter valued at about $220,000. JPMorgan Chase & Co. raised its position in M&T Bank Corporation by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 5,672,025 shares of the bank’s stock valued at $877,633,000 after buying an additional 114,924 shares during the period. Candriam Luxembourg S.C.A. raised its position in M&T Bank Corporation by 25.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 22,141 shares of the bank’s stock valued at $3,426,000 after buying an additional 4,461 shares during the period. Finally, Bessemer Group Inc. raised its position in M&T Bank Corporation by 153.0% in the fourth quarter. Bessemer Group Inc. now owns 6,837 shares of the bank’s stock valued at $1,069,000 after buying an additional 4,135 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Institutional Ownership by Quarter for M&T Bank Corporation (NYSE:MTB)

Shares of M&T Bank Corporation (NYSE MTB) opened at 161.67 on Friday. The firm’s 50 day moving average is $159.17 and its 200-day moving average is $158.50. M&T Bank Corporation has a 52 week low of $108.04 and a 52 week high of $173.72. The firm has a market cap of $24.88 billion, a price-to-earnings ratio of 19.79 and a beta of 0.76.

M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings results on Monday, April 17th. The bank reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.18. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. M&T Bank Corporation had a net margin of 23.62% and a return on equity of 9.22%. During the same quarter last year, the company posted $1.87 earnings per share. Equities research analysts predict that M&T Bank Corporation will post $9.13 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, May 30th. M&T Bank Corporation’s dividend payout ratio is currently 36.67%.

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A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a research note on Tuesday, February 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $157.00 price objective on shares of M&T Bank Corporation in a research note on Wednesday, April 5th. ValuEngine raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $168.00 price objective on shares of M&T Bank Corporation in a research note on Tuesday, April 4th. Finally, Wedbush raised their price objective on shares of M&T Bank Corporation from $144.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $154.27.

In other M&T Bank Corporation news, insider Brian E. Hickey sold 2,000 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total value of $324,040.00. Following the completion of the sale, the insider now owns 12,169 shares in the company, valued at $1,971,621.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Richard S. Gold sold 6,904 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $162.71, for a total transaction of $1,123,349.84. Following the completion of the sale, the insider now owns 39,326 shares of the company’s stock, valued at approximately $6,398,733.46. The disclosure for this sale can be found here. Company insiders own 3.18% of the company’s stock.

About M&T Bank Corporation

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

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