Bradley Foster & Sargent Inc. CT Trims Position in M&T Bank Co. (NYSE:MTB)

Bradley Foster & Sargent Inc. CT lowered its position in shares of M&T Bank Co. (NYSE:MTB) by 73.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,637 shares of the financial services provider’s stock after selling 24,118 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in M&T Bank were worth $1,307,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Advisory Services Inc. grew its position in shares of 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 valued at $273,000 after purchasing an additional 70 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in M&T Bank by 1.5% in 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 buying an additional 70 shares during the period. Umpqua Bank increased its stake in shares of M&T Bank by 5.3% during 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 during the last quarter. Fulton Bank N.A. lifted its holdings in shares of 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 worth $526,000 after acquiring an additional 81 shares during the period. Finally, Tritonpoint Wealth LLC boosted its position in shares of M&T Bank by 2.3% in the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 87 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’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 transaction of $172,230.00. Following the sale, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 owns 44,902 shares of the company’s stock, 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. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

M&T Bank stock opened at $179.86 on Friday. 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 firm’s fifty day moving average price is $166.98 and its 200 day moving average price is $153.16. The company has a market capitalization of $30.01 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $180.19.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the firm posted $5.12 earnings per share. On average, research analysts forecast that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Analyst Ratings Changes

Several brokerages recently commented on MTB. Citigroup upped their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada upped their price objective on M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Morgan Stanley upped their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus 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.