M&T Bank Co. (NYSE:MTB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its position in shares of M&T Bank Co. (NYSE:MTB) by 21.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 67,671 shares of the financial services provider’s stock after selling 18,679 shares during the quarter. Russell Investments Group Ltd.’s holdings in M&T Bank were worth $9,281,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTB. Raymond James Financial Services Advisors Inc. boosted its position in shares of M&T Bank by 7.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 37,521 shares of the financial services provider’s stock valued at $4,744,000 after purchasing an additional 2,726 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of M&T Bank by 5.9% in the third quarter. Brown Advisory Inc. now owns 36,735 shares of the financial services provider’s stock valued at $4,645,000 after buying an additional 2,059 shares in the last quarter. Forsta AP Fonden lifted its position in shares of M&T Bank by 4.7% during the 3rd quarter. Forsta AP Fonden now owns 29,200 shares of the financial services provider’s stock valued at $3,692,000 after acquiring an additional 1,300 shares during the last quarter. Strs Ohio bought a new stake in shares of M&T Bank during the 3rd quarter worth $27,439,000. Finally, IFM Investors Pty Ltd grew its holdings in shares of M&T Bank by 3.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 33,152 shares of the financial services provider’s stock worth $4,192,000 after acquiring an additional 1,128 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the subject of several analyst reports. Wells Fargo & Company upped their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Morgan Stanley lifted their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Evercore ISI boosted their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Finally, UBS Group raised their target price on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Trading Up 1.8 %

Shares of MTB opened at $149.24 on Tuesday. The stock’s 50-day moving average price is $142.08 and its 200 day moving average price is $134.91. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $24.87 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 1.23 and a beta of 0.78. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $149.29.

M&T Bank (NYSE:MTB) last released its quarterly earnings data 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). The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $4.09 earnings per share. As a group, research analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Activity

In related news, EVP Doris P. Meister sold 1,675 shares of the 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 completion of the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now 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 three months, insiders have sold 46,119 shares of company stock worth $6,679,812. Corporate insiders own 0.82% of the company’s stock.

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.