BLB&B Advisors LLC Sells 372 Shares of M&T Bank Co. (NYSE:MTB)

BLB&B Advisors LLC lessened its holdings in M&T Bank Co. (NYSE:MTBFree Report) by 18.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,602 shares of the financial services provider’s stock after selling 372 shares during the quarter. BLB&B Advisors LLC’s holdings in M&T Bank were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Columbus Macro LLC bought a new position in M&T Bank in the 4th quarter valued at $1,253,000. Pinnacle Associates Ltd. grew its position in shares of M&T Bank by 10.2% during the 4th quarter. Pinnacle Associates Ltd. now owns 7,492 shares of the financial services provider’s stock worth $1,027,000 after buying an additional 695 shares in the last quarter. Culbertson A N & Co. Inc. grew its position in shares of M&T Bank by 10.0% during the 4th quarter. Culbertson A N & Co. Inc. now owns 13,127 shares of the financial services provider’s stock worth $1,799,000 after buying an additional 1,197 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of M&T Bank by 26.3% during the 4th quarter. Hennessy Advisors Inc. now owns 12,000 shares of the financial services provider’s stock worth $1,645,000 after buying an additional 2,500 shares in the last quarter. Finally, Burns J W & Co. Inc. NY grew its position in shares of M&T Bank by 1.3% during the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after buying an additional 80 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In other news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Evercore ISI increased their price target on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price objective for the company. in a research note on Monday, December 18th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, UBS Group raised their target price on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $150.17.

Check Out Our Latest Stock Report on M&T Bank

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $145.44 on Monday. M&T Bank Co. has a one year low of $108.53 and a one year high of $148.23. The company has a market cap of $24.23 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 1.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $139.46 and its 200 day moving average price is $131.64.

M&T Bank (NYSE:MTBGet Free Report) last posted its earnings results on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $4.57 EPS. On average, research analysts predict that M&T Bank Co. will post 13.88 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.58%. M&T Bank’s payout ratio is presently 32.95%.

M&T Bank Profile

(Free Report)

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.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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