Aviva PLC Sells 1,830 Shares of M&T Bank Co. (MTB)

Aviva PLC lowered its position in M&T Bank Co. (NYSE:MTB) by 2.6% in the 3rd quarter, Holdings Channel reports. The fund owned 69,525 shares of the financial services provider’s stock after selling 1,830 shares during the period. Aviva PLC’s holdings in M&T Bank were worth $11,440,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in M&T Bank by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,761,927 shares of the financial services provider’s stock worth $948,067,000 after acquiring an additional 43,529 shares during the last quarter. FMR LLC increased its holdings in M&T Bank by 7.5% in the 2nd quarter. FMR LLC now owns 4,251,775 shares of the financial services provider’s stock worth $723,439,000 after acquiring an additional 297,143 shares during the last quarter. Wells Fargo & Company MN increased its holdings in M&T Bank by 2.1% in the 3rd quarter. Wells Fargo & Company MN now owns 1,613,092 shares of the financial services provider’s stock worth $265,419,000 after acquiring an additional 33,767 shares during the last quarter. Millennium Management LLC increased its holdings in M&T Bank by 64.8% in the 2nd quarter. Millennium Management LLC now owns 1,341,236 shares of the financial services provider’s stock worth $228,211,000 after acquiring an additional 527,556 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in M&T Bank by 14.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 737,207 shares of the financial services provider’s stock worth $121,307,000 after acquiring an additional 95,417 shares during the last quarter. 82.46% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on the company. Wedbush set a $188.00 price objective on M&T Bank and gave the stock a “hold” rating in a report on Thursday, October 18th. Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating in a report on Monday, October 1st. They noted that the move was a valuation call. Robert W. Baird raised M&T Bank from a “neutral” rating to an “outperform” rating in a report on Tuesday, October 23rd. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Finally, Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a report on Friday, September 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $184.36.

MTB stock opened at $169.01 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.64. The stock has a market cap of $23.72 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.07 and a beta of 0.86. M&T Bank Co. has a twelve month low of $154.33 and a twelve month high of $197.37.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, October 17th. The financial services provider reported $3.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.35 by $0.18. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. M&T Bank had a return on equity of 13.15% and a net margin of 26.84%. During the same quarter in the previous year, the firm earned $2.21 EPS. Sell-side analysts expect that M&T Bank Co. will post 13.04 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 3rd will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.37%. M&T Bank’s dividend payout ratio (DPR) is presently 42.78%.

In other news, insider Sabeth Siddique sold 930 shares of M&T Bank stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $164.80, for a total transaction of $153,264.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denis J. Salamone sold 25,209 shares of M&T Bank stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total value of $4,531,569.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,873 shares of company stock valued at $4,972,269. Corporate insiders own 0.48% of the company’s stock.

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About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTB).

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

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