Federated Hermes Inc. Sells 7,548 Shares of M&T Bank Co. (NYSE:MTB)

Federated Hermes Inc. trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,029 shares of the financial services provider’s stock after selling 7,548 shares during the quarter. Federated Hermes Inc. owned about 0.07% of M&T Bank worth $18,168,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Advisory Services Inc. increased its holdings in shares of M&T Bank by 42.7% during the second quarter. Meeder Advisory Services Inc. now owns 2,682 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 803 shares during the period. Vest Financial LLC increased its stake in M&T Bank by 19.1% during the 2nd quarter. Vest Financial LLC now owns 148,585 shares of the financial services provider’s stock worth $22,490,000 after acquiring an additional 23,815 shares during the period. Forsta AP Fonden raised its holdings in M&T Bank by 3.9% in the 2nd quarter. Forsta AP Fonden now owns 31,800 shares of the financial services provider’s stock valued at $4,813,000 after acquiring an additional 1,200 shares in the last quarter. American Century Companies Inc. lifted its position in shares of M&T Bank by 7.0% during the 2nd quarter. American Century Companies Inc. now owns 61,818 shares of the financial services provider’s stock valued at $9,357,000 after acquiring an additional 4,067 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of M&T Bank by 11.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 18,251 shares of the financial services provider’s stock worth $2,762,000 after purchasing an additional 1,841 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity

In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the company’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 sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,699 shares of company stock valued at $5,115,349. Company insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

M&T Bank stock opened at $168.88 on Monday. The stock has a 50-day moving average price of $165.07 and a two-hundred day moving average price of $152.33. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $176.44. The company has a market capitalization of $28.18 billion, a PE ratio of 11.42, a P/E/G ratio of 3.32 and a beta of 0.76.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $5.12 earnings per share. Analysts expect that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.20%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Wall Street Analyst Weigh In

MTB has been the subject of a number of analyst reports. Wells Fargo & Company downgraded M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Morgan Stanley boosted their target price on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Jefferies Financial Group increased their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Evercore ISI boosted their price objective on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $175.85.

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.