M&T Bank Co. (NYSE:MTB) Shares Sold by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. trimmed its holdings in M&T Bank Co. (NYSE:MTB) by 10.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 38,024 shares of the financial services provider’s stock after selling 4,625 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in M&T Bank were worth $5,755,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MTB. General Partner Inc. acquired a new stake in M&T Bank during the 1st quarter worth approximately $27,000. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank during the first quarter worth $30,000. Principal Securities Inc. purchased a new position in M&T Bank in the 4th quarter valued at $34,000. Oakworth Capital Inc. acquired a new position in M&T Bank in the 2nd quarter valued at $35,000. Finally, Mark Sheptoff Financial Planning LLC raised its position in M&T Bank by 677.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock worth $57,000 after buying an additional 359 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of 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. Bank of America increased their target price on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. DA Davidson lifted their price target on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Piper Sandler upped their price objective on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company downgraded M&T Bank from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $170.00 to $165.00 in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $175.85.

Insider Activity at M&T Bank

In related news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated 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 completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock valued at $5,115,349 over the last quarter. Insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

MTB traded down $2.29 during midday trading on Friday, reaching $166.51. 1,021,386 shares of the company’s stock were exchanged, compared to its average volume of 1,013,521. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $176.44. The stock has a market capitalization of $27.78 billion, a PE ratio of 11.26, a P/E/G ratio of 3.45 and a beta of 0.76. 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 business’s 50-day moving average price is $163.27 and its 200 day moving average price is $151.19.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $5.12 EPS. As a group, equities analysts anticipate that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.24%. M&T Bank’s dividend payout ratio is currently 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.