Smallwood Wealth Investment Management LLC Sells 7,275 Shares of M&T Bank Co. (NYSE:MTB)

Smallwood Wealth Investment Management LLC lessened its holdings in M&T Bank Co. (NYSE:MTB) by 82.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,523 shares of the financial services provider’s stock after selling 7,275 shares during the period. Smallwood Wealth Investment Management LLC’s holdings in M&T Bank were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MTB. Marshall Wace LLP grew its position 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 last quarter. Los Angeles Capital Management LLC grew its holdings in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Vest Financial LLC bought a new stake in shares of M&T Bank during the first quarter worth about $18,147,000. Dimensional Fund Advisors LP grew its holdings in shares of M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of M&T Bank by 195.1% during the first quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock worth $19,480,000 after purchasing an additional 83,814 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank 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 completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the firm’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 completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by insiders.

M&T Bank Trading Up 5.0 %

Shares of M&T Bank stock opened at $198.83 on Friday. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $200.94. The firm has a market cap of $33.17 billion, a PE ratio of 13.44, a P/E/G ratio of 3.27 and a beta of 0.75. The stock has a fifty day moving average price of $172.23 and a 200-day moving average price of $158.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) 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 firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the firm posted $5.12 EPS. Equities research analysts anticipate that M&T Bank Co. will post 14.16 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.72%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Friday, October 4th. Wedbush increased their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. 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. Finally, Morgan Stanley increased their target price on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $185.75.

About M&T Bank

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.