M&T Bank Co. (MTB) Position Reduced by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its position in M&T Bank Co. (NYSE:MTB) by 75.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,491 shares of the financial services provider’s stock after selling 7,624 shares during the period. Meeder Asset Management Inc.’s holdings in M&T Bank were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado lifted its position in shares of M&T Bank by 3.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 25,930 shares of the financial services provider’s stock valued at $4,434,000 after acquiring an additional 803 shares during the period. Everence Capital Management Inc. lifted its position in shares of M&T Bank by 32.2% during the 4th quarter. Everence Capital Management Inc. now owns 4,596 shares of the financial services provider’s stock valued at $786,000 after acquiring an additional 1,120 shares during the period. Aperio Group LLC lifted its position in shares of M&T Bank by 9.8% during the 4th quarter. Aperio Group LLC now owns 76,882 shares of the financial services provider’s stock valued at $13,146,000 after acquiring an additional 6,877 shares during the period. Victory Capital Management Inc. lifted its position in shares of M&T Bank by 9.8% during the 4th quarter. Victory Capital Management Inc. now owns 18,045 shares of the financial services provider’s stock valued at $3,086,000 after acquiring an additional 1,612 shares during the period. Finally, Engineers Gate Manager LP lifted its position in shares of M&T Bank by 88.6% during the 4th quarter. Engineers Gate Manager LP now owns 40,577 shares of the financial services provider’s stock valued at $6,938,000 after acquiring an additional 19,057 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.

MTB has been the subject of a number of research reports. Vining Sparks reiterated a “buy” rating and set a $200.00 price target on shares of M&T Bank in a research report on Monday, January 8th. Barclays lifted their price target on shares of M&T Bank from $175.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of M&T Bank from a “hold” rating to a “strong-buy” rating and set a $217.00 price target for the company in a research report on Wednesday, January 24th. ValuEngine upgraded shares of M&T Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Wells Fargo & Co set a $180.00 price target on shares of M&T Bank and gave the company a “hold” rating in a research report on Wednesday, December 20th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $176.12.

M&T Bank Co. (NYSE:MTB) opened at $182.62 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 0.99. M&T Bank Co. has a 12-month low of $141.12 and a 12-month high of $193.85. The stock has a market capitalization of $27,487.05, a P/E ratio of 21.01, a P/E/G ratio of 1.17 and a beta of 0.91.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.26. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.41 billion. M&T Bank had a net margin of 23.40% and a return on equity of 10.12%. M&T Bank’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.98 EPS. analysts predict that M&T Bank Co. will post 12.14 earnings per share for the current fiscal year.

M&T Bank announced that its board has approved a stock buyback program on Monday, February 5th that permits the company to repurchase $745.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other M&T Bank news, insider Michael J. Todaro sold 1,025 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $190.39, for a total value of $195,149.75. Following the completion of the sale, the insider now directly owns 814 shares of the company’s stock, valued at approximately $154,977.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary N. Geisel sold 1,046 shares of M&T Bank stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $170.49, for a total transaction of $178,332.54. Following the completion of the sale, the director now directly owns 17,586 shares of the company’s stock, valued at $2,998,237.14. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 29,000 shares of company stock valued at $2,710 and sold 92,427 shares valued at $17,033,174. 3.18% of the stock is currently owned by insiders.

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About M&T Bank

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.

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

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