M&T Bank Co. (NYSE:MTB) Shares Sold by Capital Market Strategies LLC

Capital Market Strategies LLC lowered its position in shares of M&T Bank Co. (NYSE:MTB) by 30.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,300 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Capital Market Strategies LLC’s holdings in M&T Bank were worth $410,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. General Partner Inc. bought a new position in M&T Bank during the first quarter valued at about $27,000. Fidelis Capital Partners LLC bought a new position in M&T Bank during the first quarter valued at about $30,000. Oakworth Capital Inc. bought a new position in M&T Bank during the second quarter valued at about $35,000. Versant Capital Management Inc boosted its position in shares of M&T Bank by 82.7% in the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 201 shares during the period. Finally, Bank & Trust Co acquired a new position in shares of M&T Bank in the 2nd quarter valued at $70,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 0.5 %

MTB opened at $172.34 on Friday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $180.63. The business has a 50-day moving average of $168.77 and a 200-day moving average of $155.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $28.76 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.76.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business earned $5.12 EPS. Equities research analysts forecast that M&T Bank Co. will post 14.23 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

Analyst Ratings Changes

MTB has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their price target on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Citigroup increased their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their price objective on M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, DA Davidson raised their price objective on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $184.13.

Insider Activity at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,699 shares of company stock valued at $5,115,349. Corporate insiders own 0.82% of the company’s stock.

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.