M&T Bank Co. (NYSE:MTB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of M&T Bank Co. (NYSE:MTB) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,537 shares of the financial services provider’s stock after selling 1,165 shares during the quarter. Victory Capital Management Inc.’s holdings in M&T Bank were worth $22,966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after buying an additional 650,796 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of M&T Bank by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock valued at $454,675,000 after purchasing an additional 41,790 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 purchasing an additional 393,116 shares in the last quarter. Northern Trust Corp lifted its position in shares of M&T Bank by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock worth $211,404,000 after purchasing an additional 59,690 shares during the last quarter. Finally, London Co. of Virginia grew its stake in shares of M&T Bank by 23.2% during the third quarter. London Co. of Virginia now owns 1,118,296 shares of the financial services provider’s stock worth $141,409,000 after purchasing an additional 210,821 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated 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 sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kirk W. Walters sold 16,179 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now directly owns 6,348 shares of the company’s stock, valued at $939,567.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated 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 directly 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 a total of 79,020 shares of company stock worth $11,533,507 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTB. DA Davidson reaffirmed a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of 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. Finally, Evercore ISI boosted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, M&T Bank has an average rating of “Hold” and a consensus price target of $158.48.

M&T Bank Stock Up 2.0 %

M&T Bank stock opened at $151.28 on Thursday. The stock has a 50 day moving average of $142.27 and a two-hundred day moving average of $135.15. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $151.33. The stock has a market capitalization of $25.21 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.23 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

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 for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analyst estimates 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 earned $4.09 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.44%. M&T Bank’s payout ratio is currently 35.16%.

M&T Bank Company 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.