Daymark Wealth Partners LLC Decreases Position in M&T Bank Co. (NYSE:MTB)

Daymark Wealth Partners LLC cut its holdings in M&T Bank Co. (NYSE:MTB) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,187 shares of the financial services provider’s stock after selling 1,945 shares during the period. Daymark Wealth Partners LLC’s holdings in M&T Bank were worth $4,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in M&T Bank by 5.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 70,741 shares of the financial services provider’s stock worth $13,300,000 after acquiring an additional 3,404 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of M&T Bank by 52.6% in the fourth quarter. Atomi Financial Group Inc. now owns 2,158 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 744 shares during the last quarter. Ballentine Partners LLC increased its holdings in M&T Bank by 23.0% during the 4th quarter. Ballentine Partners LLC now owns 2,130 shares of the financial services provider’s stock valued at $400,000 after purchasing an additional 398 shares during the period. Culbertson A N & Co. Inc. raised its position in M&T Bank by 11.2% during the 4th quarter. Culbertson A N & Co. Inc. now owns 14,758 shares of the financial services provider’s stock valued at $2,775,000 after purchasing an additional 1,490 shares during the last quarter. Finally, J2 Capital Management Inc purchased a new stake in M&T Bank in the 4th quarter worth approximately $455,000. 84.68% of the stock is owned by institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the transaction, the executive vice president now owns 5,618 shares of the company’s stock, valued at approximately $1,095,678.54. The trade was a 20.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,994 shares of company stock worth $13,331,878 in the last 90 days. 0.82% of the stock is currently owned by insiders.

M&T Bank Trading Up 0.8 %

Shares of MTB stock opened at $198.25 on Wednesday. The firm’s 50 day moving average is $201.76 and its 200 day moving average is $184.65. The stock has a market capitalization of $32.89 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.38 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business earned $2.74 EPS. Research analysts expect that M&T Bank Co. will post 16.56 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.72%. M&T Bank’s dividend payout ratio is currently 36.91%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Compass Point lifted their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. DA Davidson increased their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Barclays increased their target price on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.68.

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.