Cwm LLC Sells 371 Shares of M&T Bank Co. (NYSE:MTB)

Cwm LLC reduced its stake in M&T Bank Co. (NYSE:MTB) by 7.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,688 shares of the financial services provider’s stock after selling 371 shares during the quarter. Cwm LLC’s holdings in M&T Bank were worth $643,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its holdings in M&T Bank by 15.5% during the 3rd quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after purchasing an additional 650,796 shares during the period. Smead Capital Management Inc. purchased a new position in shares of M&T Bank during the fourth quarter valued at $59,418,000. LSV Asset Management raised its holdings in shares of M&T Bank by 63.5% in the third quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock valued at $140,176,000 after acquiring an additional 430,356 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in M&T Bank by 29.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock worth $218,308,000 after acquiring an additional 393,116 shares during the period. Finally, Senvest Management LLC grew its holdings in M&T Bank by 279.6% during the 3rd quarter. Senvest Management LLC now owns 426,700 shares of the financial services provider’s stock worth $53,956,000 after acquiring an additional 314,300 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTB has been the subject of several recent research reports. Bank of America boosted their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Evercore ISI boosted their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. DA Davidson reaffirmed a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their price target on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group dropped their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus target price of $158.48.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction dated 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 directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other M&T Bank news, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,119 shares of company stock valued at $6,812,112. 0.82% of the stock is owned by company insiders.

M&T Bank Stock Performance

MTB opened at $145.54 on Tuesday. The firm’s 50-day moving average price is $141.15 and its 200-day moving average price is $134.03. The company has a market cap of $24.25 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.93.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $4.09 EPS. As a group, equities analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors 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 yield of 3.57%. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

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.