M&T Bank Co. (NYSE:MTB) Position Cut by First United Bank & Trust

First United Bank & Trust lowered its position in shares of M&T Bank Co. (NYSE:MTB) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,600 shares of the financial services provider’s stock after selling 157 shares during the period. First United Bank & Trust’s holdings in M&T Bank were worth $1,617,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of MTB. Plato Investment Management Ltd grew its holdings in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of M&T Bank in the third quarter worth $32,000. Hexagon Capital Partners LLC raised its stake in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in M&T Bank in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares of the company’s stock, valued at approximately $1,095,678.54. The trade was a 20.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,994 shares of company stock valued at $13,331,878. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MTB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 price target (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Barclays raised their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. DA Davidson boosted their price objective on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, M&T Bank presently has an average rating of “Hold” and an average target price of $221.68.

M&T Bank Trading Up 0.4 %

Shares of MTB stock opened at $196.88 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. The firm has a fifty day moving average of $202.41 and a 200-day moving average of $183.95. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70. The stock has a market cap of $32.67 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.26 and a beta of 0.79.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the company posted $2.74 EPS. On average, equities research analysts forecast that M&T Bank Co. will post 16.33 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company 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 yield of 2.74%. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

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.