LGT Financial Advisors LLC Lowers Holdings in M&T Bank Co. (NYSE:MTB)

LGT Financial Advisors LLC cut its stake in M&T Bank Co. (NYSE:MTB) by 64.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 486 shares of the financial services provider’s stock after selling 875 shares during the period. LGT Financial Advisors LLC’s holdings in M&T Bank were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MTB. Massachusetts Financial Services Co. MA boosted its holdings in shares of M&T Bank by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock valued at $237,265,000 after purchasing an additional 4,419 shares during the last quarter. Norges Bank purchased a new position in shares of M&T Bank in the 4th quarter worth about $232,322,000. Bank of New York Mellon Corp grew its holdings in shares of M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after purchasing an additional 44,442 shares during the period. Dimensional Fund Advisors LP raised its holdings in M&T Bank by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,451,856 shares of the financial services provider’s stock valued at $199,037,000 after buying an additional 100,008 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in M&T Bank by 8.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 546,751 shares of the financial services provider’s stock worth $74,949,000 after buying an additional 41,523 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MTB shares. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price target for the company from $183.00 to $215.00 in a report on Tuesday. DA Davidson increased their target price on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Finally, Piper Sandler upped their target price on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average price target of $175.85.

M&T Bank Trading Down 0.1 %

M&T Bank stock opened at $168.80 on Friday. The company has a 50 day moving average price of $162.96 and a 200 day moving average price of $150.90. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 3.45 and a beta of 0.77. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $176.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the firm posted $5.12 earnings per share. Research analysts forecast that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is 36.51%.

Insider Buying and Selling

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock valued at $5,115,349 over the last ninety days. Insiders own 0.82% of the company’s stock.

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.