M&T Bank Co. (NYSE:MTB) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp reduced its stake in shares of M&T Bank Co. (NYSE:MTB) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,031 shares of the financial services provider’s stock after selling 314 shares during the period. Hancock Whitney Corp’s holdings in M&T Bank were worth $1,518,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. General Partner Inc. acquired a new position in M&T Bank during the first quarter worth about $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank during the 1st quarter worth approximately $30,000. Principal Securities Inc. acquired a new stake in shares of M&T Bank in the 4th quarter worth approximately $34,000. Oakworth Capital Inc. purchased a new position in M&T Bank in the 2nd quarter valued at approximately $35,000. Finally, Versant Capital Management Inc raised its holdings in M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 201 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s 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 completion of the transaction, the director now owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on MTB shares. Royal Bank of Canada lifted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group lifted their price objective 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. Morgan Stanley upped their target price on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods raised their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, Bank of America upped their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. 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. According to data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average price target of $175.85.

M&T Bank Price Performance

MTB opened at $179.56 on Monday. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $180.25. The company has a 50 day moving average of $167.47 and a two-hundred day moving average of $153.59. The company has a market cap of $29.96 billion, a P/E ratio of 12.14, a P/E/G ratio of 3.32 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

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, beating the consensus estimate 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business posted $5.12 EPS. On average, analysts expect that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Announces Dividend

The business 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 $1.35 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.01%. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

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.