Vontobel Holding Ltd. Decreases Stake in M&T Bank Corporation (NYSE:MTB)

Vontobel Holding Ltd. lowered its stake in shares of M&T Bank Corporation (NYSE:MTB) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,216 shares of the financial services provider’s stock after selling 196 shares during the quarter. Vontobel Holding Ltd.’s holdings in M&T Bank were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTB. Mather Group LLC. raised its position in M&T Bank by 8.7% in the 1st quarter. Mather Group LLC. now owns 3,047 shares of the financial services provider’s stock valued at $545,000 after purchasing an additional 245 shares during the last quarter. Amalgamated Bank grew its stake in shares of M&T Bank by 1.2% during the 1st quarter. Amalgamated Bank now owns 32,198 shares of the financial services provider’s stock worth $5,755,000 after purchasing an additional 383 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of M&T Bank by 5.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 449,920 shares of the financial services provider’s stock worth $80,423,000 after purchasing an additional 24,773 shares during the period. Cornerstone Advisors Asset Management LLC grew its stake in shares of M&T Bank by 9.4% during the 1st quarter. Cornerstone Advisors Asset Management LLC now owns 1,169 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 100 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of M&T Bank by 11.2% in the 1st quarter. Sunbelt Securities Inc. now owns 1,591 shares of the financial services provider’s stock worth $284,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the sale, the director directly owned 23,070 shares in the company, valued at $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

M&T Bank stock opened at $202.58 on Monday. The company has a market cap of $32.52 billion, a PE ratio of 13.57, a P/E/G ratio of 1.46 and a beta of 0.63. The company has a fifty day moving average price of $183.43 and a two-hundred day moving average price of $183.63. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a 12 month low of $146.71 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same quarter in the previous year, the business posted $3.09 earnings per share. Research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, June 2nd. M&T Bank’s dividend payout ratio is currently 36.17%.

Analyst Ratings Changes

Several research firms recently commented on MTB. Wells Fargo & Company decreased their price objective on shares of M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 15th. Cowen initiated coverage on shares of M&T Bank in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Truist Financial dropped their target price on shares of M&T Bank from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Finally, Evercore ISI lowered their price objective on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.48.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.