M&T Bank Co. (NYSE:MTB) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,409 shares of the financial services provider’s stock after selling 114 shares during the quarter. Raymond James Trust N.A.’s holdings in M&T Bank were worth $365,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. General Partner Inc. purchased a new position in shares of M&T Bank in the first quarter valued at approximately $27,000. Fidelis Capital Partners LLC acquired a new position in shares of M&T Bank in the first quarter worth $30,000. Oakworth Capital Inc. purchased a new position in M&T Bank in the second quarter valued at $35,000. Principal Securities Inc. acquired a new position in M&T Bank during the 4th quarter worth $34,000. Finally, Mark Sheptoff Financial Planning LLC grew its stake in M&T Bank by 677.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 359 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Performance

Shares of MTB opened at $167.40 on Wednesday. The company’s 50 day simple moving average is $159.36 and its 200-day simple moving average is $149.18. The firm has a market cap of $27.93 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $176.44. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm posted $5.12 EPS. As a group, equities analysts predict that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,699 shares of company stock worth $3,395,049. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on M&T Bank from $180.00 to $183.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada lifted their price target on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Piper Sandler increased their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Morgan Stanley lifted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus price target of $173.85.

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.