Community Bank N.A. Sells 8,000 Shares of M&T Bank Co. (NYSE:MTB)

Community Bank N.A. trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 78.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,212 shares of the financial services provider’s stock after selling 8,000 shares during the quarter. Community Bank N.A.’s holdings in M&T Bank were worth $303,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of MTB. Invesco Ltd. boosted its position in M&T Bank by 15.5% during the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after acquiring an additional 650,796 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in M&T Bank by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock worth $454,675,000 after acquiring an additional 41,790 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in M&T Bank by 29.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock worth $218,308,000 after acquiring an additional 393,116 shares during the last quarter. Northern Trust Corp boosted its position in M&T Bank by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock worth $211,404,000 after acquiring an additional 59,690 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in M&T Bank by 20.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider’s stock worth $204,047,000 after acquiring an additional 270,819 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on MTB. Wedbush reaffirmed an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. UBS Group increased their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $158.48.

M&T Bank Price Performance

M&T Bank stock traded down $1.38 during midday trading on Thursday, reaching $146.58. The company’s stock had a trading volume of 465,490 shares, compared to its average volume of 1,189,562. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.25. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $140.66 and a 200-day moving average price of $133.54. The stock has a market cap of $24.42 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. On average, sell-side analysts predict that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is presently 35.16%.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at $464,662.02. The disclosure for this sale can be found here. Insiders have sold a total of 37,119 shares of company stock worth $5,341,012 over the last 90 days. Insiders own 0.82% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.