M&T Bank Corporation $MTB Shares Sold by Florida Trust Wealth Management Co

Florida Trust Wealth Management Co cut its holdings in M&T Bank Corporation (NYSE:MTB) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 25,334 shares of the financial services provider’s stock after selling 2,548 shares during the period. Florida Trust Wealth Management Co’s holdings in M&T Bank were worth $5,104,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Bank of Jackson Hole Trust boosted its holdings in shares of M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the last quarter. Triumph Capital Management acquired a new position in M&T Bank in the third quarter valued at $32,000. Twin Peaks Wealth Advisors LLC acquired a new position in M&T Bank in the second quarter valued at $36,000. Ameriflex Group Inc. lifted its position in M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in M&T Bank by 61.8% in the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Piper Sandler increased their price objective on shares of M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Wells Fargo & Company raised their target price on shares of M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a research report on Monday, January 5th. UBS Group upped their price target on shares of M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada increased their price target on shares of M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $231.50.

Insider Buying and Selling

In related news, EVP Michael A. Wisler sold 8,237 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the sale, the executive vice president directly owned 4,643 shares in the company, valued at approximately $1,037,617.64. This trade represents a 63.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 909 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total value of $206,679.33. Following the transaction, the director directly owned 5,976 shares in the company, valued at $1,358,763.12. This trade represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 49,092 shares of company stock valued at $11,182,250. 0.44% of the stock is owned by company insiders.

M&T Bank Trading Up 0.0%

Shares of MTB stock opened at $210.25 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $239.00. The firm’s 50 day moving average price is $216.22 and its two-hundred day moving average price is $202.93. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.60.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the business earned $3.77 earnings per share. On average, analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, March 2nd. M&T Bank’s dividend payout ratio is currently 35.19%.

M&T Bank announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 31st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 16.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

M&T Bank 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.