Daymark Wealth Partners LLC Lowers Stock Position in M&T Bank Co. (NYSE:MTB)

Daymark Wealth Partners LLC reduced its holdings in shares of M&T Bank Co. (NYSE:MTB) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,132 shares of the financial services provider’s stock after selling 566 shares during the period. Daymark Wealth Partners LLC’s holdings in M&T Bank were worth $4,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. General Partner Inc. purchased a new stake in M&T Bank during the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC purchased a new stake in M&T Bank in the first quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new position in M&T Bank in the 2nd quarter worth approximately $35,000. Versant Capital Management Inc raised its position in M&T Bank by 82.7% during the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after buying an additional 201 shares during the last quarter. Finally, Bank & Trust Co purchased a new position in M&T Bank during the 2nd quarter worth approximately $70,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MTB shares. DA Davidson increased their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $187.00 to $210.00 in a research note on Wednesday, October 2nd. Wedbush boosted their price objective on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company downgraded M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $170.00 to $165.00 in a report on Thursday, August 15th. Two equities 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, the stock currently has an average rating of “Hold” and an average price target of $185.75.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their position. 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 owned by company insiders.

M&T Bank Price Performance

MTB stock traded up $1.91 during mid-day trading on Wednesday, reaching $179.43. The company’s stock had a trading volume of 105,895 shares, compared to its average volume of 1,016,631. The stock has a market cap of $29.94 billion, a PE ratio of 12.00, a P/E/G ratio of 3.55 and a beta of 0.75. The company’s 50 day moving average is $169.04 and its two-hundred day moving average is $156.39. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $180.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter last year, the business posted $5.12 earnings per share. Equities research analysts expect that M&T Bank Co. will post 14.23 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 3.01%. M&T Bank’s payout ratio is 36.51%.

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.