Calamos Advisors LLC Makes New Investment in M&T Bank Co. (NYSE:MTB)

Calamos Advisors LLC bought a new position in M&T Bank Co. (NYSE:MTB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 52,503 shares of the financial services provider’s stock, valued at approximately $8,294,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTB. North Star Investment Management Corp. acquired a new stake in M&T Bank in the third quarter worth $32,000. Webster Bank N. A. acquired a new stake in M&T Bank in the second quarter worth $43,000. HM Payson & Co. acquired a new stake in M&T Bank in the second quarter worth $51,000. CSat Investment Advisory L.P. increased its position in M&T Bank by 305.3% in the second quarter. CSat Investment Advisory L.P. now owns 304 shares of the financial services provider’s stock worth $52,000 after buying an additional 229 shares during the period. Finally, CX Institutional increased its position in M&T Bank by 24.8% in the second quarter. CX Institutional now owns 372 shares of the financial services provider’s stock worth $63,000 after buying an additional 74 shares during the period. 82.00% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Michael J. Todaro bought 186 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $144.84 per share, with a total value of $26,940.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,108 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $150.96, for a total value of $167,263.68. Following the transaction, the executive vice president now directly owns 1,371 shares of the company’s stock, valued at approximately $206,966.16. The disclosure for this sale can be found here. Insiders have sold 4,828 shares of company stock valued at $770,668 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Several equities research analysts have weighed in on the company. Citigroup dropped their target price on M&T Bank from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Macquarie set a $158.00 price target on M&T Bank and gave the stock a “sell” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods cut M&T Bank from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $168.00 to $160.00 in a research note on Friday, October 18th. Morgan Stanley decreased their price target on M&T Bank from $175.00 to $172.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Piper Jaffray Companies cut M&T Bank from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $196.00 to $168.00 in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $167.83.

NYSE:MTB opened at $156.34 on Wednesday. M&T Bank Co. has a 1 year low of $133.78 and a 1 year high of $176.11. The stock has a market cap of $20.35 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.23 and a beta of 1.10. The business has a fifty day moving average of $154.23 and a 200-day moving average of $160.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 1.01.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.59 by ($0.12). M&T Bank had a net margin of 28.58% and a return on equity of 13.82%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business earned $3.53 EPS. On average, equities research analysts predict that M&T Bank Co. will post 13.79 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.00 per share. The ex-dividend date was Friday, August 30th. This represents a $4.00 annualized dividend and a yield of 2.56%. M&T Bank’s dividend payout ratio is currently 31.10%.

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 banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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