Tobam Has $77,000 Position in M&T Bank Co. (NYSE:MTB)

Tobam trimmed its stake in M&T Bank Co. (NYSE:MTB) by 59.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 508 shares of the financial services provider’s stock after selling 739 shares during the quarter. Tobam’s holdings in M&T Bank were worth $77,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. General Partner Inc. acquired a new stake in shares of M&T Bank in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new stake in M&T Bank in the first quarter valued at approximately $30,000. Principal Securities Inc. bought a new stake in shares of M&T Bank during the fourth quarter valued at approximately $34,000. Oakworth Capital Inc. acquired a new position in shares of M&T Bank during the second quarter worth approximately $35,000. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in shares of M&T Bank by 677.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 359 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the sale, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,699 shares of company stock valued at $3,395,049. Company insiders own 0.82% of the company’s stock.

M&T Bank Trading Up 1.3 %

NYSE MTB opened at $172.17 on Friday. The stock has a market capitalization of $28.73 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 3.34 and a beta of 0.77. The business’s fifty day moving average is $160.69 and its 200-day moving average is $149.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. M&T Bank Co. has a one year low of $108.53 and a one year high of $176.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm posted $5.12 earnings per share. Equities research analysts predict that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 3.14%. M&T Bank’s payout ratio is 36.51%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. DA Davidson upped their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Royal Bank of Canada raised their price target on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Citigroup boosted their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Finally, Morgan Stanley upped their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $173.85.

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.