Hartford Investment Management Co. Trims Stock Holdings in M&T Bank Co. (NYSE:MTB)

Hartford Investment Management Co. lessened its stake in shares of M&T Bank Co. (NYSE:MTB) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,573 shares of the financial services provider’s stock after selling 124 shares during the quarter. Hartford Investment Management Co.’s holdings in M&T Bank were worth $1,883,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MTB. Private Advisor Group LLC increased its holdings in M&T Bank by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 27,255 shares of the financial services provider’s stock valued at $4,855,000 after purchasing an additional 435 shares during the last quarter. Eastern Bank purchased a new position in shares of M&T Bank during the third quarter worth $381,000. Signaturefd LLC boosted its position in shares of M&T Bank by 7.5% during the third quarter. Signaturefd LLC now owns 1,895 shares of the financial services provider’s stock worth $338,000 after buying an additional 133 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of M&T Bank by 44.7% in the third quarter. Sequoia Financial Advisors LLC now owns 4,897 shares of the financial services provider’s stock valued at $872,000 after buying an additional 1,513 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of M&T Bank by 14.8% in the 3rd quarter. Foundations Investment Advisors LLC now owns 2,167 shares of the financial services provider’s stock valued at $386,000 after buying an additional 280 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTB has been the subject of several research reports. The Goldman Sachs Group lifted their target price on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company increased their target price on shares of M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Friday, October 4th. Finally, Royal Bank of Canada upped their price objective on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average price target of $197.47.

Insider Buying and Selling at M&T Bank

In other news, EVP Michael J. Todaro sold 4,791 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.57, for a total value of $778,872.87. Following the completion of the transaction, the executive vice president now owns 3,086 shares in the company, valued at approximately $501,691.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Michael J. Todaro sold 4,791 shares of M&T Bank stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the sale, the executive vice president now owns 3,086 shares in the company, valued at approximately $501,691.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,735 shares of company stock worth $7,437,757 over the last three months. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 0.3 %

Shares of NYSE MTB opened at $194.50 on Friday. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $200.94. The company has a market capitalization of $32.45 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average of $174.96 and a two-hundred day moving average of $159.94.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

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.