Central Pacific Bank Trust Division Has $169,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Central Pacific Bank Trust Division cut its holdings in M&T Bank Co. (NYSE:MTB) by 40.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 900 shares of the financial services provider’s stock after selling 600 shares during the quarter. Central Pacific Bank Trust Division’s holdings in M&T Bank were worth $169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Plato Investment Management Ltd increased its stake in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in M&T Bank in the third quarter valued at $32,000. Hexagon Capital Partners LLC boosted 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 worth $34,000 after purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in M&T Bank in the 3rd quarter valued at about $44,000. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MTB. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and increased their price target for the stock from $220.00 to $230.00 in a report on Monday, November 25th. DA Davidson lifted their price target on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. The Goldman Sachs Group lifted their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Compass Point upped their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $215.50.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $191.54 on Friday. The firm has a market capitalization of $31.78 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.83 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $203.61 and its 200 day simple moving average is $180.34. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. As a group, analysts anticipate that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the transaction, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. This represents a 28.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock worth $17,211,278 in the last quarter. Insiders own 0.82% of the company’s stock.

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.