Larson Financial Group LLC Sells 500 Shares of M&T Bank Co. (NYSE:MTB)

Larson Financial Group LLC decreased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 43.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 658 shares of the financial services provider’s stock after selling 500 shares during the period. Larson Financial Group LLC’s holdings in M&T Bank were worth $117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hedeker Wealth LLC increased its position in shares of 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 buying an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 57 shares in the last quarter. Crestwood Advisors Group LLC increased its position in shares of M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after buying an additional 57 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of 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 in the last quarter. Finally, Meitav Investment House Ltd. increased its position in shares of M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after buying an additional 69 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.0 %

M&T Bank stock opened at $220.80 on Friday. M&T Bank Co. has a one year low of $123.46 and a one year high of $225.70. The company has a market cap of $36.64 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 3.13 and a beta of 0.74. The firm has a 50-day moving average of $195.64 and a 200-day moving average of $171.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, equities analysts expect that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTB. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $230.00 in a research report on Monday. Bank of America increased their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays increased their target price on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Royal Bank of Canada increased their target price on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group increased their target price on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $206.41.

Insider Activity at M&T Bank

In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s 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 sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a 18.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the sale, the director now owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This trade represents a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,383 shares of company stock worth $17,925,801. Insiders own 0.82% of the company’s stock.

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.