M&T Bank Co. (NYSE:MTB) Stock Position Cut by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY trimmed its stake in shares of M&T Bank Co. (NYSE:MTB) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,364 shares of the financial services provider’s stock after selling 75 shares during the period. Burns J W & Co. Inc. NY’s holdings in M&T Bank were worth $1,008,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in M&T Bank in the third quarter worth approximately $44,000. Principal Financial Group Inc. lifted its holdings in shares of M&T Bank by 1.4% in the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after buying an additional 2,797 shares during the period. Smead Capital Management Inc. boosted its stake in M&T Bank by 3.5% during the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock valued at $87,959,000 after buying an additional 16,657 shares in the last quarter. National Pension Service boosted its stake in M&T Bank by 5.2% during the third quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock valued at $47,761,000 after buying an additional 13,302 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in M&T Bank by 6.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock worth $8,955,000 after acquiring an additional 2,883 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MTB. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Wells Fargo & Company raised their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. Evercore ISI boosted their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $216.86.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is owned by corporate insiders.

M&T Bank Stock Up 1.9 %

Shares of NYSE MTB traded up $3.60 during mid-day trading on Monday, reaching $191.35. The company had a trading volume of 1,366,170 shares, compared to its average volume of 1,166,710. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The stock’s 50 day moving average is $203.16 and its 200-day moving average is $182.33. The stock has a market capitalization of $31.75 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 2.79 and a beta of 0.79.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, equities analysts anticipate that M&T Bank Co. will post 14.63 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.82%. M&T Bank’s dividend payout ratio is currently 39.97%.

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.