First United Bank & Trust Lowers Stock Holdings in M&T Bank Co. (NYSE:MTB)

First United Bank & Trust lowered its stake in M&T Bank Co. (NYSE:MTB) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,600 shares of the financial services provider’s stock after selling 157 shares during the period. First United Bank & Trust’s holdings in M&T Bank were worth $1,617,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FMR LLC raised its stake in shares of M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares in the last quarter. State Street Corp raised its position in M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after acquiring an additional 527,854 shares in the last quarter. Marshall Wace LLP lifted its holdings in M&T Bank by 232.1% in the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after acquiring an additional 472,997 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of M&T Bank during the 3rd quarter worth $44,422,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after purchasing an additional 190,837 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 0.4 %

MTB opened at $196.88 on Tuesday. The company has a market cap of $32.67 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. M&T Bank Co. has a 1 year low of $128.31 and a 1 year high of $225.70. The firm has a 50 day moving average price of $202.41 and a 200 day moving average price of $183.95.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the business posted $2.74 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 16.33 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.74%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

Insider Activity at M&T Bank

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the completion of the transaction, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 64,994 shares of company stock valued at $13,331,878. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MTB. DA Davidson upped their target price on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday. Keefe, Bruyette & Woods upped their price target on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Wedbush lifted their price objective on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Barclays upped their target price on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their price target on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $221.68.

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.