Usca Ria LLC Acquires New Stake in M&T Bank Co. (NYSE:MTB)

Usca Ria LLC bought a new position in shares of M&T Bank Co. (NYSE:MTB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 161 shares of the financial services provider’s stock, valued at approximately $25,000.

Several other large investors also recently bought and sold shares of MTB. Nuveen Asset Management LLC increased its stake in M&T Bank by 54,440.2% in the second quarter. Nuveen Asset Management LLC now owns 1,993,989 shares of the financial services provider’s stock valued at $339,118,000 after acquiring an additional 1,990,333 shares during the last quarter. Hexavest Inc. bought a new position in M&T Bank in the second quarter valued at $35,588,000. Renaissance Technologies LLC increased its stake in M&T Bank by 438.3% in the second quarter. Renaissance Technologies LLC now owns 215,542 shares of the financial services provider’s stock valued at $36,657,000 after acquiring an additional 175,500 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in M&T Bank in the third quarter valued at $16,555,000. Finally, AQR Capital Management LLC increased its stake in M&T Bank by 19.8% in the second quarter. AQR Capital Management LLC now owns 394,800 shares of the financial services provider’s stock valued at $67,144,000 after acquiring an additional 65,236 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

In other news, COO Richard S. Gold sold 4,093 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $169.43, for a total value of $693,476.99. Following the completion of the sale, the chief operating officer now owns 38,936 shares of the company’s stock, valued at approximately $6,596,926.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Todaro purchased 186 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $144.84 per share, with a total value of $26,940.24. The disclosure for this purchase can be found here. Insiders sold a total of 25,574 shares of company stock worth $4,245,337 over the last 90 days. Insiders own 0.54% of the company’s stock.

A number of research analysts have recently issued reports on MTB shares. Macquarie set a $158.00 price objective on M&T Bank and gave the company a “sell” rating in a research note on Friday, July 19th. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Jefferies Financial Group cut M&T Bank from a “buy” rating to a “hold” rating and reduced their price objective for the company from $185.00 to $167.00 in a research note on Tuesday, October 8th. Zacks Investment Research lowered shares of M&T Bank from a “hold” rating to a “sell” rating and set a $166.00 target price for the company. in a report on Wednesday, September 18th. Finally, UBS Group lowered their price objective on shares of M&T Bank from $164.00 to $161.00 and set a “neutral” rating for the company in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $167.62.

NYSE:MTB traded up $0.76 during mid-day trading on Friday, hitting $167.59. 545,509 shares of the stock traded hands, compared to its average volume of 745,258. The stock has a market capitalization of $22.21 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.35 and a beta of 1.11. M&T Bank Co. has a 52 week low of $133.78 and a 52 week high of $176.11. The firm’s 50 day moving average is $156.87 and its two-hundred day moving average is $160.42. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 0.48.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $3.47 EPS for the quarter, missing the Zacks’ consensus estimate of $3.59 by ($0.12). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.53 billion. M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. During the same quarter in the prior year, the company earned $3.53 earnings per share. As a group, research analysts predict that M&T Bank Co. will post 13.7 EPS for the current year.

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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