First Trust Direct Indexing L.P. Sells 147 Shares of M&T Bank Co. (NYSE:MTB)

First Trust Direct Indexing L.P. trimmed its holdings in M&T Bank Co. (NYSE:MTB) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,877 shares of the financial services provider’s stock after selling 147 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in M&T Bank were worth $394,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Invesco Ltd. lifted its holdings in M&T Bank by 15.5% in 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 last quarter. Smead Capital Management Inc. bought a new stake in shares of M&T Bank during the 4th quarter worth $59,418,000. LSV Asset Management boosted its holdings in shares of M&T Bank by 63.5% during the 3rd quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock worth $140,176,000 after buying an additional 430,356 shares during the period. Massachusetts Financial Services Co. MA grew its stake in M&T Bank by 29.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock valued at $218,308,000 after buying an additional 393,116 shares during the last quarter. Finally, Senvest Management LLC raised its holdings in M&T Bank by 279.6% in 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 during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Friday. UBS Group upped their price target on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. JPMorgan Chase & Co. raised their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley upped their target price on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $158.48.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of the 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 sale, the director now owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,119 shares of company stock worth $6,679,812. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Up 1.8 %

Shares of NYSE:MTB opened at $149.24 on Tuesday. The company’s fifty day moving average is $142.08 and its 200-day moving average is $134.91. 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 Co. has a 52 week low of $108.53 and a 52 week high of $149.29. The company has a market capitalization of $24.87 billion, a PE ratio of 10.09, a P/E/G ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last released its quarterly 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). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter last year, the firm earned $4.09 earnings per share. Equities research analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.48%. M&T Bank’s dividend payout ratio 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.