Carnegie Investment Counsel Has $509,000 Position in M&T Bank Co. (NYSE:MTB)

Carnegie Investment Counsel lessened its holdings in M&T Bank Co. (NYSE:MTB) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,705 shares of the financial services provider’s stock after selling 75 shares during the period. Carnegie Investment Counsel’s holdings in M&T Bank were worth $509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Plato Investment Management Ltd grew its stake in M&T Bank by 2,300.0% during the 3rd 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 purchased a new position in M&T Bank during the third quarter valued at approximately $32,000. Hexagon Capital Partners LLC increased its stake 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 valued at $34,000 after buying an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position 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 buying an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of M&T Bank during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the sale, the director now owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. The trade was a 28.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock valued at $17,211,278 over the last three months. 0.82% of the stock is owned by insiders.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $196.88 on Friday. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79. The business has a 50 day moving average price of $202.41 and a 200 day moving average price of $183.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 period in the prior year, the company posted $2.74 EPS. Research analysts predict 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. Stockholders of record on Monday, December 2nd were given 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 dividend yield of 2.74%. M&T Bank’s payout ratio is 39.97%.

Analyst Ratings Changes

Several brokerages recently issued reports on MTB. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Wedbush lifted their price target on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Evercore ISI increased their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. 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. Finally, Barclays increased their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $221.68.

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.