Tompkins Financial Corp Sells 500 Shares of M&T Bank Co. (NYSE:MTB)

Tompkins Financial Corp decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 31.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,086 shares of the financial services provider’s stock after selling 500 shares during the period. Tompkins Financial Corp’s holdings in M&T Bank were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MTB. Plato Investment Management Ltd lifted its position in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in M&T Bank during the 3rd quarter valued at approximately $32,000. Hexagon Capital Partners LLC lifted its holdings in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in M&T Bank during the 3rd quarter valued at approximately $44,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MTB shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. DA Davidson boosted their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Piper Sandler boosted their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods raised their price target on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. 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 stock. According to MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average price target of $216.86.

Insider Transactions at M&T Bank

In other news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares in the company, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is currently owned by company insiders.

M&T Bank Trading Down 2.3 %

Shares of NYSE MTB opened at $196.16 on Friday. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $32.55 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.16 and a beta of 0.79. The business’s 50 day moving average price is $202.90 and its 200-day moving average price is $183.07.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same quarter in the prior year, the business earned $2.74 earnings per share. On average, sell-side analysts expect that M&T Bank Co. will post 14.58 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 dividend on an annualized basis and a yield of 2.75%. M&T Bank’s dividend payout ratio is currently 39.97%.

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.