Fulton Bank N.A. Sells 290 Shares of M&T Bank Co. (NYSE:MTB)

Fulton Bank N.A. trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,442 shares of the financial services provider’s stock after selling 290 shares during the period. Fulton Bank N.A.’s holdings in M&T Bank were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of M&T Bank by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,378 shares of the financial services provider’s stock valued at $602,000 after acquiring an additional 768 shares during the period. Czech National Bank lifted its stake in M&T Bank by 7.0% in the third quarter. Czech National Bank now owns 34,019 shares of the financial services provider’s stock valued at $6,059,000 after purchasing an additional 2,224 shares during the last quarter. Quent Capital LLC lifted its stake in M&T Bank by 75.7% in the third quarter. Quent Capital LLC now owns 397 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 171 shares during the last quarter. Seneca House Advisors bought a new position in M&T Bank during the third quarter valued at $343,000. Finally, HBW Advisory Services LLC purchased a new stake in M&T Bank in the third quarter worth $223,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank 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 transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now owns 15,045 shares in the company, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the director now owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 over the last ninety days. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MTB shares. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. 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. Citigroup upped their price target on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Jefferies Financial Group lifted their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, DA Davidson increased their target price on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $185.75.

M&T Bank Stock Down 0.2 %

Shares of NYSE MTB opened at $177.52 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average of $168.96 and a 200-day moving average of $156.14. The firm has a market capitalization of $29.62 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 3.55 and a beta of 0.75. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $180.63.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results 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. 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 analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm earned $5.12 EPS. Sell-side analysts expect that M&T Bank Co. will post 14.23 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed 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 3.04%. M&T Bank’s dividend payout ratio (DPR) is presently 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.