Ferguson Wellman Capital Management Inc. Has $206,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

Ferguson Wellman Capital Management Inc. lowered its holdings in shares of M&T Bank Co. (NYSE:MTB) by 24.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,157 shares of the financial services provider’s stock after selling 373 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in M&T Bank were worth $206,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank during the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the period. Oakworth Capital Inc. bought a new position in M&T Bank during the second quarter worth $35,000. nVerses Capital LLC acquired a new stake in M&T Bank in the third quarter worth $53,000. Finally, Versant Capital Management Inc increased its stake in M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 201 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

M&T Bank stock opened at $197.55 on Monday. The firm’s fifty day moving average price is $172.93 and its 200-day moving average price is $158.92. The stock has a market cap of $32.96 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $200.94. 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 for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate 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 business earned $5.12 EPS. On average, equities research analysts expect that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Activity at M&T Bank

In other news, Director Kirk W. Walters sold 7,464 shares of the firm’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 of the company’s stock, valued at $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now directly owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the sale, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,699 shares of company stock worth $5,115,349. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MTB shares. Morgan Stanley increased their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup upped their price target on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. The Goldman Sachs Group raised their price objective on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler upped their target price on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada increased their target price on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $196.18.

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.