Leuthold Group LLC Sells 199 Shares of M&T Bank Co. (NYSE:MTB)

Leuthold Group LLC cut its holdings in M&T Bank Co. (NYSE:MTB) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,290 shares of the financial services provider’s stock after selling 199 shares during the period. Leuthold Group LLC’s holdings in M&T Bank were worth $3,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. XTX Topco Ltd bought a new position in M&T Bank in the 2nd quarter worth $1,154,000. Sienna Gestion purchased a new stake in M&T Bank in the second quarter worth about $7,497,000. Hsbc Holdings PLC raised its stake in shares of M&T Bank by 0.3% in the second quarter. Hsbc Holdings PLC now owns 436,225 shares of the financial services provider’s stock worth $66,097,000 after buying an additional 1,298 shares during the period. Elo Mutual Pension Insurance Co purchased a new position in shares of M&T Bank during the 2nd quarter valued at about $2,156,000. Finally, Blair William & Co. IL grew its stake in shares of M&T Bank by 26.3% during the 2nd quarter. Blair William & Co. IL now owns 6,982 shares of the financial services provider’s stock valued at $1,057,000 after acquiring an additional 1,453 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.1 %

MTB stock opened at $174.05 on Thursday. The firm has a market cap of $29.04 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76. The firm has a fifty day moving average price of $166.48 and a 200 day moving average price of $152.98. 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 Co. has a fifty-two week low of $108.53 and a fifty-two week high of $177.61.

M&T Bank (NYSE:MTB) last posted its 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 net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $5.12 EPS. Sell-side analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current fiscal 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 given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.10%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Activity

In related 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 sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Denis J. Salamone sold 10,000 shares of the 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 sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock valued at $5,115,349 in the last ninety days. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Bank of America increased their price target on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada boosted their price objective 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. Finally, Wells Fargo & Company lowered M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $170.00 to $165.00 in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $175.85.

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.