Bangor Savings Bank Sells 150 Shares of M&T Bank Co. (NYSE:MTB)

Bangor Savings Bank decreased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,649 shares of the financial services provider’s stock after selling 150 shares during the period. Bangor Savings Bank’s holdings in M&T Bank were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. O Keefe Stevens Advisory Inc. lifted its stake in M&T Bank by 3.2% in the 1st quarter. O Keefe Stevens Advisory Inc. now owns 41,493 shares of the financial services provider’s stock worth $6,035,000 after purchasing an additional 1,302 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of M&T Bank by 4.1% in the 1st quarter. Park Avenue Securities LLC now owns 6,074 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 240 shares during the period. Czech National Bank boosted its holdings in shares of M&T Bank by 0.8% in the 1st quarter. Czech National Bank now owns 29,301 shares of the financial services provider’s stock worth $4,262,000 after purchasing an additional 235 shares during the period. Fulton Bank N.A. lifted its stake in shares of M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 81 shares during the last quarter. Finally, Alaska Permanent Fund Corp lifted its stake in shares of M&T Bank by 2.3% during the 1st quarter. Alaska Permanent Fund Corp now owns 18,763 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 417 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In other news, Director John P. Barnes sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the transaction, the director now owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Christopher E. Kay sold 1,821 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the completion of the transaction, the executive vice president now owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The disclosure for this sale can be found here. Insiders sold a total of 97,553 shares of company stock valued at $14,724,147 in the last quarter. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MTB has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. 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. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and set a $164.00 target price on shares of M&T Bank in a research report on Friday. Finally, DA Davidson reaffirmed a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus target price of $159.79.

M&T Bank Stock Down 0.2 %

M&T Bank stock opened at $147.51 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50-day simple moving average is $147.45 and its two-hundred day simple moving average is $141.50. The company has a market cap of $24.61 billion, a PE ratio of 9.97, a PEG ratio of 2.90 and a beta of 0.78. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $156.65.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the firm posted $4.09 EPS. Equities analysts anticipate that M&T Bank Co. will post 13.99 EPS for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, June 3rd. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s payout ratio is 36.51%.

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.