Robeco Institutional Asset Management B.V. Has $12.11 Million Position in M&T Bank Co. (NYSE:MTB)

Robeco Institutional Asset Management B.V. lifted its stake in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 83.2% during the third quarter, Holdings Channel reports. The fund owned 68,684 shares of the financial services provider’s stock after buying an additional 31,183 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in M&T Bank were worth $12,110,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. SRS Capital Advisors Inc. raised its holdings in M&T Bank by 712.5% during the second quarter. SRS Capital Advisors Inc. now owns 195 shares of the financial services provider’s stock worth $31,000 after buying an additional 171 shares during the last quarter. Ronald Blue Trust Inc. raised its holdings in M&T Bank by 148.9% during the third quarter. Ronald Blue Trust Inc. now owns 219 shares of the financial services provider’s stock worth $35,000 after buying an additional 131 shares during the last quarter. CI Investments Inc. raised its holdings in M&T Bank by 887.5% during the third quarter. CI Investments Inc. now owns 237 shares of the financial services provider’s stock worth $42,000 after buying an additional 213 shares during the last quarter. Private Trust Co. NA acquired a new position in M&T Bank during the second quarter worth $40,000. Finally, Riverview Trust Co raised its holdings in M&T Bank by 219.3% during the third quarter. Riverview Trust Co now owns 265 shares of the financial services provider’s stock worth $47,000 after buying an additional 182 shares during the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.

M&T Bank Price Performance

MTB opened at $122.50 on Friday. The firm has a market cap of $20.58 billion, a P/E ratio of 10.63, a PEG ratio of 0.78 and a beta of 0.82. The firm has a 50-day moving average of $150.57 and a 200 day moving average of $161.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96. M&T Bank Co. has a fifty-two week low of $120.40 and a fifty-two week high of $193.42.

M&T Bank (NYSE:MTB – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The financial services provider reported $4.57 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.10. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.37 billion. M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. During the same quarter in the prior year, the business earned $3.37 earnings per share. On average, research analysts expect that M&T Bank Co. will post 18.09 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 6th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Friday, March 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.20. M&T Bank’s dividend payout ratio (DPR) is currently 45.14%.

Analysts Set New Price Targets

Several research firms have weighed in on MTB. JPMorgan Chase & Co. upped their price objective on shares of M&T Bank from $153.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. StockNews.com began coverage on shares of M&T Bank in a research note on Thursday. They issued a “hold” rating for the company. Morgan Stanley reduced their target price on shares of M&T Bank from $225.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, January 23rd. DA Davidson began coverage on shares of M&T Bank in a research note on Wednesday, December 21st. They issued a “neutral” rating and a $160.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on shares of M&T Bank from $175.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, December 8th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $182.18.

About M&T Bank

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.