M&T Bank Co. (NYSE:MTB) Stock Holdings Trimmed by WealthCare Investment Partners LLC

WealthCare Investment Partners LLC lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 21.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,983 shares of the financial services provider’s stock after selling 537 shares during the period. WealthCare Investment Partners LLC’s holdings in M&T Bank were worth $353,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Ossiam grew its position in shares of M&T Bank by 92.7% during the 4th quarter. Ossiam now owns 10,290 shares of the financial services provider’s stock valued at $1,411,000 after buying an additional 4,950 shares during the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of M&T Bank by 4.4% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 14,488 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 605 shares during the period. XML Financial LLC lifted its holdings in shares of M&T Bank by 20.0% in the 4th quarter. XML Financial LLC now owns 3,864 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 643 shares during the last quarter. RMB Capital Management LLC boosted its position in M&T Bank by 8.6% during the 4th quarter. RMB Capital Management LLC now owns 43,748 shares of the financial services provider’s stock valued at $5,997,000 after purchasing an additional 3,449 shares during the period. Finally, Novak & Powell Financial Services Inc. bought a new position in M&T Bank during the 4th quarter worth $221,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was 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 $2,617,378.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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

Shares of MTB opened at $177.52 on Wednesday. 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 50 day moving average is $168.96 and its 200-day moving average is $156.14. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $180.63. The stock has a market capitalization of $29.62 billion, a P/E ratio of 12.00, a P/E/G ratio of 3.55 and a beta of 0.75.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $5.12 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 14.23 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 3.04%. M&T Bank’s payout ratio is presently 36.51%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Royal Bank of Canada boosted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Friday, October 4th. Citigroup boosted their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, DA Davidson raised their target price on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $185.75.

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.