M&T Bank Co. (NYSE:MTB) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC cut its holdings in M&T Bank Co. (NYSE:MTB) by 82.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,521 shares of the financial services provider’s stock after selling 20,660 shares during the quarter. Squarepoint Ops LLC’s holdings in M&T Bank were worth $684,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Meeder Advisory Services Inc. grew its position in shares of M&T Bank by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 70 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of M&T Bank by 1.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 70 shares during the last quarter. Umpqua Bank grew its position in shares of M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 73 shares during the last quarter. Fulton Bank N.A. grew its position in shares of M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 81 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in shares of M&T Bank by 6.7% in the second quarter. Citizens Financial Group Inc. RI now owns 1,474 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 92 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank 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 of the company’s stock, valued at $5,476,225.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other M&T Bank news, 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 completion of the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock valued at $5,115,349 in the last quarter. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB stock opened at $177.83 on Tuesday. The company’s fifty day simple moving average is $168.84 and its 200-day simple moving average is $155.92. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $180.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a market cap of $29.67 billion, a PE ratio of 12.02, a P/E/G ratio of 3.55 and a beta of 0.75.

M&T Bank (NYSE:MTB) last released its quarterly earnings results 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 net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the firm posted $5.12 EPS. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.23 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. 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. Morgan Stanley raised their target price 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. Finally, Bank of America raised 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $185.75.

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.