M&T Bank Co. (NYSE:MTB) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC lessened its stake in M&T Bank Co. (NYSE:MTB) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,062 shares of the financial services provider’s stock after selling 84 shares during the period. Mutual Advisors LLC’s holdings in M&T Bank were worth $797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hedeker Wealth LLC increased its position in M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after acquiring an additional 55 shares during the period. Frank Rimerman Advisors LLC boosted its stake in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 57 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its stake in shares of M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the sale, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the sale, the director now owns 29,796 shares in the company, valued at $5,899,608. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,487 shares of company stock valued at $8,578,809. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MTB shares. Royal Bank of Canada upped their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Bank of America boosted their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays boosted their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. DA Davidson boosted their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company upped their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Performance

NYSE:MTB opened at $198.81 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. The firm has a 50-day moving average of $200.79 and a two-hundred day moving average of $185.41. The stock has a market cap of $32.99 billion, a P/E ratio of 13.59, a PEG ratio of 1.37 and a beta of 0.79. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the business earned $2.74 EPS. On average, research analysts expect that M&T Bank Co. will post 16.56 earnings per share for the current fiscal year.

M&T Bank announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

M&T Bank Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 2.72%. M&T Bank’s payout ratio is 36.91%.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.