M&T Bank Co. (NYSE:MTB) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in M&T Bank Co. (NYSE:MTB) by 1.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 31,538 shares of the financial services provider’s stock after selling 499 shares during the quarter. Handelsbanken Fonder AB’s holdings in M&T Bank were worth $5,618,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MTB. Ossiam raised its stake in M&T Bank by 92.7% in the 4th quarter. Ossiam now owns 10,290 shares of the financial services provider’s stock valued at $1,411,000 after purchasing an additional 4,950 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its stake in shares of M&T Bank by 4.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 14,488 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 605 shares in the last quarter. XML Financial LLC boosted its position in M&T Bank by 20.0% during the fourth quarter. XML Financial LLC now owns 3,864 shares of the financial services provider’s stock worth $530,000 after acquiring an additional 643 shares during the last quarter. RMB Capital Management LLC grew its stake in M&T Bank by 8.6% during the 4th quarter. RMB Capital Management LLC now owns 43,748 shares of the financial services provider’s stock valued at $5,997,000 after acquiring an additional 3,449 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. acquired a new stake in M&T Bank in the 4th quarter valued at about $221,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Down 0.5 %

NYSE:MTB opened at $177.83 on Tuesday. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $180.63. The stock’s fifty day moving average is $168.84 and its two-hundred day moving average is $155.92. The stock has a market capitalization of $29.67 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted its 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. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates 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 company earned $5.12 EPS. Research analysts anticipate that M&T Bank Co. will post 14.23 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Piper Sandler raised their target price on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Jefferies Financial Group boosted their price target on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Morgan Stanley raised 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. Finally, Royal Bank of Canada boosted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average target price of $185.75.

Insider Buying and Selling

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Kirk W. Walters sold 7,464 shares of M&T Bank 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 transaction, the director now owns 15,045 shares in the company, valued at $2,617,378.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. 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 in the last ninety days. Company insiders own 0.82% of the company’s stock.

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.