CIBC Asset Management Inc Sells 1,376 Shares of M&T Bank Co. (NYSE:MTB)

CIBC Asset Management Inc lowered its stake in shares of M&T Bank Co. (NYSE:MTBFree Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,206 shares of the financial services provider’s stock after selling 1,376 shares during the quarter. CIBC Asset Management Inc’s holdings in M&T Bank were worth $3,729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HHM Wealth Advisors LLC bought a new stake in shares of M&T Bank in the 4th quarter worth $25,000. BKM Wealth Management LLC bought a new stake in M&T Bank in the 4th quarter worth about $32,000. Headinvest LLC purchased a new stake in M&T Bank in the 3rd quarter valued at about $29,000. CVA Family Office LLC bought a new position in shares of M&T Bank during the 4th quarter worth approximately $33,000. Finally, Planned Solutions Inc. purchased a new position in shares of M&T Bank in the 4th quarter worth approximately $33,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Christopher E. Kay sold 1,821 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.78, for a total value of $280,033.38. Following the transaction, the executive vice president now directly owns 8,579 shares in the company, valued at $1,319,278.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.78, for a total value of $280,033.38. Following the completion of the transaction, the executive vice president now owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the firm’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 sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,359 shares of company stock worth $19,475,472. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Performance

NYSE:MTB opened at $145.31 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $24.24 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 2.86 and a beta of 0.78. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $156.65. The business’s fifty day moving average is $146.19 and its 200 day moving average is $140.02.

M&T Bank (NYSE:MTBGet Free Report) 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). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the firm earned $4.09 earnings per share. Research analysts predict that M&T Bank Co. will post 14.04 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a $1.35 dividend. The ex-dividend date is Monday, June 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.72%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. DA Davidson reaffirmed a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Jefferies Financial Group lifted their target price on M&T Bank from $151.00 to $160.00 and gave the stock a “hold” rating in a research note on Tuesday. Evercore ISI increased 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. Bank of America lifted their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $159.04.

Read Our Latest Research Report on MTB

M&T Bank Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTBFree Report).

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.