NBC Securities Inc. Cuts Stock Holdings in M&T Bank Co. (NYSE:MTB)

NBC Securities Inc. decreased its stake in shares of M&T Bank Co. (NYSE:MTB) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,888 shares of the financial services provider’s stock after selling 125 shares during the period. NBC Securities Inc.’s holdings in M&T Bank were worth $336,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MTB. Hexagon Capital Partners LLC lifted its holdings in 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 worth $34,000 after acquiring an additional 68 shares during the period. Meeder Advisory Services Inc. lifted its holdings in M&T Bank by 3.9% during the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 70 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in M&T Bank by 1.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 70 shares during the period. Umpqua Bank lifted its holdings in M&T Bank by 5.3% during the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 73 shares during the period. Finally, Procyon Advisors LLC lifted its holdings in M&T Bank by 1.7% during the third quarter. Procyon Advisors LLC now owns 4,544 shares of the financial services provider’s stock worth $809,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 7,464 shares of the company’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 completion of the transaction, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

M&T Bank Stock Performance

NYSE:MTB opened at $197.55 on Friday. 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 Co. has a 52-week low of $108.53 and a 52-week high of $200.94. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.27 and a beta of 0.75. The business’s fifty day moving average is $172.93 and its 200 day moving average is $158.65.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the business earned $5.12 earnings per share. Research analysts predict that M&T Bank Co. will post 14.16 EPS for the current year.

M&T Bank Dividend Announcement

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

Analysts Set New Price Targets

MTB has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their price target on M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a report on Friday. Wedbush boosted their target price on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Bank of America boosted their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, M&T Bank has an average rating of “Hold” and an average target price of $196.18.

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.