M&T Bank Corp Sells 13,101 Shares of M&T Bank Co. (NYSE:MTB)

M&T Bank Corp trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,706,202 shares of the financial services provider’s stock after selling 13,101 shares during the period. M&T Bank makes up about 0.9% of M&T Bank Corp’s investment portfolio, making the stock its 21st biggest position. M&T Bank Corp owned 1.03% of M&T Bank worth $233,886,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. HHM Wealth Advisors LLC bought a new stake in M&T Bank in the fourth quarter valued at $25,000. Headinvest LLC bought a new stake in shares of M&T Bank in the 3rd quarter worth about $29,000. BKM Wealth Management LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $32,000. Creative Financial Designs Inc. ADV bought a new position in M&T Bank during the 4th quarter valued at about $33,000. Finally, CVA Family Office LLC acquired a new position in M&T Bank in the fourth quarter valued at about $33,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other M&T Bank news, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the sale, the executive vice president now directly owns 5,000 shares in the company, valued at approximately $718,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the sale, the executive vice president now directly owns 3,362 shares in the company, valued at $464,662.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The disclosure for this sale can be found here. Insiders have sold 46,119 shares of company stock worth $6,679,812 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Trading Up 0.2 %

NYSE MTB traded up $0.31 during trading on Friday, reaching $146.58. 531,891 shares of the stock traded hands, compared to its average volume of 1,021,836. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $24.42 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. The stock’s 50-day moving average price is $141.81 and its 200 day moving average price is $134.54.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period last year, the firm earned $4.09 EPS. 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 declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 35.16%.

Analyst Ratings Changes

MTB has been the subject of a number of research analyst reports. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Bank of America raised their target price on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Jefferies Financial Group decreased their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Profile

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.