Oak Thistle LLC Sells 2,440 Shares of M&T Bank Co. (NYSE:MTB)

Oak Thistle LLC trimmed its position in M&T Bank Co. (NYSE:MTB) by 48.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,609 shares of the financial services provider’s stock after selling 2,440 shares during the quarter. Oak Thistle LLC’s holdings in M&T Bank were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTB. Burns J W & Co. Inc. NY raised its stake in shares of M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 80 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in M&T Bank by 3.2% during the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 80 shares during the period. Fulton Bank N.A. raised its position in 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 valued at $526,000 after purchasing an additional 81 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in M&T Bank by 41.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock worth $43,000 after buying an additional 100 shares during the period. Finally, Xponance Inc. grew its position in shares of M&T Bank by 0.5% in the 4th quarter. Xponance Inc. now owns 21,906 shares of the financial services provider’s stock worth $3,003,000 after buying an additional 112 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Jefferies Financial Group raised their target price on shares of M&T Bank from $151.00 to $160.00 and gave the stock a “hold” rating in a research report on Tuesday, June 4th. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price target on shares of 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $164.00 price objective on shares of M&T Bank in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $161.51.

M&T Bank Trading Down 1.0 %

M&T Bank stock opened at $149.82 on Tuesday. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $156.65. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77. The business’s fifty day simple moving average is $148.32 and its two-hundred day simple moving average is $142.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $4.09 earnings per share. As a group, equities analysts predict that M&T Bank Co. will post 13.99 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.60%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insiders Place Their Bets

In other news, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the transaction, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christopher E. Kay sold 1,821 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $153.78, for a total transaction of $280,033.38. Following the sale, the executive vice president now directly owns 8,579 shares in the company, valued at approximately $1,319,278.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,553 shares of company stock valued at $14,724,147. Corporate insiders own 0.82% of the company’s stock.

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.