Orion Portfolio Solutions LLC Sells 4,133 Shares of M&T Bank Co. (NYSE:MTB)

Orion Portfolio Solutions LLC lowered its holdings in M&T Bank Co. (NYSE:MTB) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,826 shares of the financial services provider’s stock after selling 4,133 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in M&T Bank were worth $6,465,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC raised its position in shares of M&T Bank by 677.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 359 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in M&T Bank by 9.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 8,684 shares of the financial services provider’s stock worth $1,190,000 after purchasing an additional 726 shares in the last quarter. Giverny Capital Inc. raised its holdings in M&T Bank by 0.3% in the fourth quarter. Giverny Capital Inc. now owns 343,056 shares of the financial services provider’s stock worth $47,026,000 after purchasing an additional 937 shares in the last quarter. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of M&T Bank during the fourth quarter valued at about $2,227,000. Finally, Aigen Investment Management LP bought a new stake in shares of M&T Bank in the 4th quarter valued at about $436,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the sale, the director now directly owns 35,480 shares in the company, valued at $5,481,660. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,359 shares of company stock valued at $19,475,472. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE:MTB traded up $1.15 during midday trading on Friday, reaching $150.66. 513,456 shares of the company’s stock traded hands, compared to its average volume of 740,651. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day simple moving average of $145.28 and a two-hundred day simple moving average of $138.48. The company has a market cap of $25.14 billion, a P/E ratio of 10.19, a PEG ratio of 2.95 and a beta of 0.78. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $156.65.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 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 firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $4.09 EPS. Equities analysts predict that M&T Bank Co. will post 14.02 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, June 3rd. M&T Bank’s dividend payout ratio is 35.16%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MTB. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Bank of America increased their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report 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 issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $158.48.

M&T Bank Company 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.