M&T Bank Co. (NYSE:MTB) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. reduced its position in M&T Bank Co. (NYSE:MTB) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,112 shares of the financial services provider’s stock after selling 500 shares during the quarter. 1832 Asset Management L.P.’s holdings in M&T Bank were worth $11,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MTB. HHM Wealth Advisors LLC acquired a new stake in M&T Bank during the 4th quarter worth $25,000. General Partner Inc. acquired a new stake in shares of M&T Bank in the 1st quarter worth $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank in the first quarter valued at about $30,000. CVA Family Office LLC purchased a new stake in M&T Bank in the 4th quarter valued at approximately $33,000. Finally, Planned Solutions Inc. acquired a new position in M&T Bank during the 4th quarter worth approximately $33,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John P. Barnes sold 13,360 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.00, for a total transaction of $1,963,920.00. Following the sale, the director now directly owns 35,480 shares in the company, valued at approximately $5,215,560. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John P. Barnes sold 13,360 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.00, for a total value of $1,963,920.00. Following the transaction, the director now owns 35,480 shares of the company’s stock, valued at $5,215,560. The disclosure for this sale can be found here. Insiders have sold a total of 87,415 shares of company stock worth $13,285,139 over the last quarter. 0.82% of the stock is owned by corporate insiders.

M&T Bank Trading Up 0.8 %

Shares of NYSE:MTB traded up $1.39 during midday trading on Friday, reaching $174.90. The company’s stock had a trading volume of 980,508 shares, compared to its average volume of 1,049,592. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $176.44. The business has a 50 day moving average price of $152.34 and a 200 day moving average price of $145.01. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a market cap of $29.18 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.52 and a beta of 0.77.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company posted $5.12 EPS. Research analysts forecast that M&T Bank Co. will post 14.18 EPS for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 3.09%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Wall Street Analyst Weigh In

MTB has been the topic of a number of analyst reports. Piper Sandler lifted their price target on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Wells Fargo & Company upped their price target on shares of 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. Wedbush reissued an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group increased their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and an average target price of $170.35.

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.