M&T Bank Co. (NYSE:MTB) Shares Sold by Capital Market Strategies LLC

Capital Market Strategies LLC lowered its stake in shares of M&T Bank Co. (NYSE:MTB) by 30.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,300 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Capital Market Strategies LLC’s holdings in M&T Bank were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. General Partner Inc. acquired a new stake in M&T Bank during the first quarter worth approximately $27,000. Fidelis Capital Partners LLC acquired a new position in shares of M&T Bank in the 1st quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in shares of M&T Bank in the 2nd quarter valued at $35,000. Versant Capital Management Inc increased its holdings in shares of M&T Bank by 82.7% in the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 201 shares during the period. Finally, Bank & Trust Co acquired a new position in shares of M&T Bank in the 2nd quarter valued at $70,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction 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 in the company, valued at $7,724,491.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s 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 transaction, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 in the last 90 days. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. Bank of America boosted their target price on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $187.00 to $210.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $184.13.

M&T Bank Stock Down 0.5 %

MTB opened at $172.34 on Friday. The firm has a 50 day moving average price of $168.77 and a 200 day moving average price of $155.45. The company has a market cap of $28.76 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.76. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $180.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00.

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

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 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.