M&T Bank Co. (NYSE:MTB) Stock Holdings Decreased by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lowered its stake in M&T Bank Co. (NYSE:MTB) by 12.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,167 shares of the financial services provider’s stock after selling 1,024 shares during the period. Chartwell Investment Partners LLC’s holdings in M&T Bank were worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MTB. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of M&T Bank by 13.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,471 shares of the financial services provider’s stock valued at $650,000 after buying an additional 535 shares during the period. Empowered Funds LLC boosted its stake in M&T Bank by 26.7% during the 1st quarter. Empowered Funds LLC now owns 2,204 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 465 shares during the period. Sei Investments Co. boosted its stake in M&T Bank by 0.7% during the 1st quarter. Sei Investments Co. now owns 52,092 shares of the financial services provider’s stock valued at $7,578,000 after purchasing an additional 338 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of M&T Bank by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 70 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of M&T Bank in the 1st quarter worth approximately $213,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 0.6 %

Shares of NYSE MTB opened at $213.27 on Wednesday. The stock has a market cap of $35.39 billion, a P/E ratio of 15.79, a P/E/G ratio of 2.97 and a beta of 0.74. The firm has a 50 day moving average price of $183.56 and a 200 day moving average price of $165.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.99. M&T Bank Co. has a 52-week low of $116.07 and a 52-week high of $216.84.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Analysts expect that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is 39.97%.

Insider Buying and Selling

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 approximately $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the sale, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,088 shares of company stock valued at $12,613,397. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their price target on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wedbush increased their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Finally, Barclays increased their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average price target of $198.76.

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.