Sigma Planning Corp Reduces Stock Holdings in M&T Bank Co. (NYSE:MTB)

Sigma Planning Corp lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 36.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,512 shares of the financial services provider’s stock after selling 862 shares during the quarter. Sigma Planning Corp’s holdings in M&T Bank were worth $207,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MTB. Burns J W & Co. Inc. NY increased its holdings 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 valued at $827,000 after purchasing an additional 80 shares in the last quarter. Robinson Value Management Ltd. increased its holdings 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 buying an additional 85 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of M&T Bank by 41.7% in the third quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 100 shares during the period. CI Investments Inc. boosted 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 acquiring an additional 104 shares in the last quarter. Finally, Steamboat Capital Partners LLC grew its position 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 valued at $736,000 after acquiring an additional 109 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

NYSE MTB opened at $145.54 on Tuesday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The firm has a market capitalization 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 stock’s fifty day moving average is $141.15 and its two-hundred day moving average is $134.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm earned $4.09 earnings per share. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is presently 35.16%.

Insiders Place Their Bets

In other news, Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the sale, the director now owns 34,545 shares of the company’s stock, valued at $5,081,914.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total value 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 $5,081,914.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were 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 owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders have sold 47,119 shares of company stock worth $6,812,112 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of several research analyst reports. Piper Sandler dropped their price objective on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 19th. Bank of America boosted their price target on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $158.48.

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.