M&T Bank Co. (NYSE:MTB) Shares Sold by Northcape Wealth Management LLC

Northcape Wealth Management LLC lessened its position in M&T Bank Co. (NYSE:MTB) by 8.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,935 shares of the financial services provider’s stock after selling 1,100 shares during the quarter. Northcape Wealth Management LLC’s holdings in M&T Bank were worth $1,636,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MTB. Invesco Ltd. increased its position in shares of M&T Bank by 15.5% during the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after purchasing an additional 650,796 shares in the last quarter. Smead Capital Management Inc. acquired a new stake in shares of M&T Bank during the fourth quarter worth approximately $59,418,000. LSV Asset Management grew its position in M&T Bank by 63.5% during the 3rd quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock worth $140,176,000 after acquiring an additional 430,356 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in M&T Bank by 29.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock valued at $218,308,000 after purchasing an additional 393,116 shares during the last quarter. Finally, Senvest Management LLC boosted its stake in M&T Bank by 279.6% in the third quarter. Senvest Management LLC now owns 426,700 shares of the financial services provider’s stock worth $53,956,000 after purchasing an additional 314,300 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director John P. Barnes sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the sale, the director now owns 34,545 shares of the company’s stock, valued at $5,081,914.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,119 shares of company stock valued at $6,812,112. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on MTB. Piper Sandler cut their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Morgan Stanley upped their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. UBS Group boosted their price objective on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Stock Down 0.8 %

M&T Bank stock traded down $1.13 during midday trading on Tuesday, hitting $144.39. 545,059 shares of the stock were exchanged, compared to its average volume of 1,175,593. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $24.06 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.93. The business’s 50-day moving average price is $141.15 and its 200-day moving average price is $134.03.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the prior year, the company earned $4.09 EPS. On average, research analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

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.