M&T Bank Co. (NYSE:MTB) Stock Holdings Reduced by WealthCare Investment Partners LLC

WealthCare Investment Partners LLC reduced its position in M&T Bank Co. (NYSE:MTB) by 21.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,983 shares of the financial services provider’s stock after selling 537 shares during the quarter. WealthCare Investment Partners LLC’s holdings in M&T Bank were worth $353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTB. Meeder Advisory Services Inc. boosted its holdings in M&T Bank by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of M&T Bank by 1.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 70 shares during the last quarter. Umpqua Bank raised its stake in shares of M&T Bank by 5.3% in the 2nd quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 73 shares in the last quarter. Fulton Bank N.A. lifted its holdings in M&T Bank by 2.3% in the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 81 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its position in M&T Bank by 6.7% during the second quarter. Citizens Financial Group Inc. RI now owns 1,474 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 92 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other M&T Bank news, 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 transaction of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares of the company’s stock, valued at $502,184.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock valued at $5,115,349 in the last 90 days. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted 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 note on Monday, August 5th. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. Royal Bank of Canada raised their price target on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Wedbush boosted their price objective on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Finally, Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $185.75.

M&T Bank Trading Down 0.2 %

Shares of MTB stock opened at $177.52 on Wednesday. The firm has a fifty day moving average of $168.96 and a 200-day moving average of $156.14. The stock has a market cap of $29.62 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 3.55 and a beta of 0.75. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $180.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00.

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 (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the prior year, the business posted $5.12 earnings per share. On average, equities research analysts forecast that M&T Bank Co. will post 14.23 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

About M&T Bank

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.