Greenleaf Trust Sells 700 Shares of M&T Bank Co. (NYSE:MTB)

Greenleaf Trust cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 26.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,931 shares of the financial services provider’s stock after selling 700 shares during the quarter. Greenleaf Trust’s holdings in M&T Bank were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Burns J W & Co. Inc. NY boosted its holdings in shares of M&T Bank by 1.3% in the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after buying an additional 80 shares during the last quarter. Robinson Value Management Ltd. lifted its stake in M&T Bank by 0.3% in the third quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock valued at $4,241,000 after acquiring an additional 85 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of M&T Bank by 41.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 100 shares during the period. CI Investments Inc. increased its stake in shares of M&T Bank by 2.9% during the 3rd quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 104 shares during the last quarter. Finally, Steamboat Capital Partners LLC increased its stake in shares of M&T Bank by 1.9% during the 3rd quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider’s stock worth $736,000 after purchasing an additional 109 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group reduced their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th. Morgan Stanley lifted their target price on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Bank of America increased their price target on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Piper Sandler cut their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Finally, Evercore ISI upped their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $158.48.

M&T Bank Price Performance

NYSE:MTB opened at $147.96 on Thursday. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The firm’s 50-day simple moving average is $140.66 and its 200 day simple moving average is $133.54. The firm has a market cap of $24.65 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the prior year, the business posted $4.09 earnings per share. As a group, sell-side analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.51%. M&T Bank’s dividend payout ratio is presently 35.16%.

Insider Activity

In related news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The disclosure for this sale can be found here. In the last three months, insiders sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is currently owned by company insiders.

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.