M&T Bank Co. (NYSE:MTB) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its holdings in shares of M&T Bank Co. (NYSE:MTBFree Report) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,176 shares of the financial services provider’s stock after selling 3,035 shares during the quarter. Raymond James & Associates owned 0.07% of M&T Bank worth $15,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MTB. Virtu Financial LLC grew its stake in shares of M&T Bank by 17,405.3% during the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock worth $105,417,000 after acquiring an additional 5,243,349 shares during the last quarter. Spring Creek Capital LLC grew its position in M&T Bank by 217.0% during the 1st quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock worth $66,759,000 after purchasing an additional 2,286,251 shares during the last quarter. Norges Bank acquired a new position in M&T Bank during the 4th quarter valued at approximately $231,022,000. Goldman Sachs Group Inc. raised its holdings in shares of M&T Bank by 76.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock worth $71,171,000 after buying an additional 1,538,436 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of M&T Bank by 71.6% during the fourth quarter. Morgan Stanley now owns 2,986,977 shares of the financial services provider’s stock worth $433,291,000 after buying an additional 1,246,265 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTB. Piper Sandler cut their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Friday, January 19th. UBS Group increased their price target on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft cut shares of 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. Finally, DA Davidson reiterated a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $150.17.

Get Our Latest Analysis on MTB

M&T Bank Trading Down 1.8 %

Shares of M&T Bank stock opened at $140.65 on Wednesday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.23. 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 company has a market cap of $23.44 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 1.29 and a beta of 0.80. The firm has a 50-day simple moving average of $139.49 and a two-hundred day simple moving average of $131.77.

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

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.70%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is presently 32.95%.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the sale, the executive vice president now directly owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,481 shares of company stock worth $5,114,624. Company insiders own 0.82% of the company’s stock.

M&T Bank Company 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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