Boston Trust Walden Corp Cuts Holdings in M&T Bank Corporation $MTB

Boston Trust Walden Corp lowered its stake in M&T Bank Corporation (NYSE:MTB) by 83.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,170 shares of the financial services provider’s stock after selling 40,842 shares during the period. Boston Trust Walden Corp’s holdings in M&T Bank were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rede Wealth LLC acquired a new stake in M&T Bank in the third quarter valued at approximately $665,000. Regent Peak Wealth Advisors LLC acquired a new position in M&T Bank during the 3rd quarter worth approximately $247,000. Canoe Financial LP increased its position in shares of M&T Bank by 46.8% in the 3rd quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock valued at $85,704,000 after purchasing an additional 138,173 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of M&T Bank by 16.6% in the 3rd quarter. Pacer Advisors Inc. now owns 17,074 shares of the financial services provider’s stock valued at $3,374,000 after purchasing an additional 2,425 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of M&T Bank by 2.2% in the 3rd quarter. Trust Co. of Vermont now owns 14,862 shares of the financial services provider’s stock valued at $2,937,000 after purchasing an additional 325 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 5,250 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the completion of the sale, the executive vice president owned 5,501 shares in the company, valued at approximately $1,054,541.70. This represents a 48.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares in the company, valued at approximately $3,244,324.20. This represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Trading Down 0.6%

NYSE:MTB opened at $203.53 on Wednesday. The stock’s 50 day moving average price is $192.44 and its 200 day moving average price is $193.26. The company has a market capitalization of $31.28 billion, a PE ratio of 12.53, a P/E/G ratio of 0.98 and a beta of 0.61. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $208.26.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The business had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. On average, research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a $1.50 dividend. The ex-dividend date is Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. M&T Bank’s payout ratio is currently 36.95%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Cowen reissued a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Jefferies Financial Group upped their price objective on M&T Bank from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a report on Monday. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Finally, Piper Sandler began coverage on M&T Bank in a report on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.26.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.