Toronto Dominion Bank Has $10.11 Million Stake in M&T Bank Co. (NYSE:MTB)

Toronto Dominion Bank decreased its stake in shares of M&T Bank Co. (NYSE:MTB) by 39.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 69,536 shares of the financial services provider’s stock after selling 45,380 shares during the period. Toronto Dominion Bank’s holdings in M&T Bank were worth $10,113,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MTB. HHM Wealth Advisors LLC bought a new stake in M&T Bank during the 4th quarter valued at approximately $25,000. General Partner Inc. bought a new stake in M&T Bank during the 1st quarter valued at approximately $27,000. Fidelis Capital Partners LLC bought a new stake in M&T Bank during the 1st quarter valued at approximately $30,000. Planned Solutions Inc. bought a new stake in M&T Bank during the 4th quarter valued at approximately $33,000. Finally, CVA Family Office LLC bought a new stake in shares of M&T Bank in the 4th quarter worth approximately $33,000. Institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the sale, the director now owns 35,480 shares in the company, valued at $5,481,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,415 shares of company stock worth $13,285,139. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

MTB has been the topic of several recent research reports. Piper Sandler lifted their price objective on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company lifted their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Bank of America lifted their price objective on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. Finally, Evercore ISI boosted their price target on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus target price of $170.35.

M&T Bank Trading Up 0.8 %

NYSE MTB traded up $1.43 on Friday, reaching $174.94. The company had a trading volume of 980,505 shares, compared to its average volume of 1,047,578. The stock’s 50 day moving average is $152.34 and its 200-day moving average is $144.95. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 4.42 and a beta of 0.77. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. 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 data 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 business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the prior year, the company posted $5.12 earnings per share. Equities analysts predict that M&T Bank Co. will post 14.16 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio is currently 36.51%.

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.