B. Metzler seel. Sohn & Co. AG Sells 3,228 Shares of M&T Bank Corporation $MTB

B. Metzler seel. Sohn & Co. AG reduced its position in M&T Bank Corporation (NYSE:MTB) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,682 shares of the financial services provider’s stock after selling 3,228 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in M&T Bank were worth $5,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust raised its stake in M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares during the period. Triumph Capital Management bought a new stake in M&T Bank in the 3rd quarter valued at about $32,000. Ameriflex Group Inc. raised its stake in M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 84 shares during the period. Westside Investment Management Inc. raised 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 valued at $39,000 after acquiring an additional 76 shares during the period. Finally, Hoese & Co LLP bought a new stake in M&T Bank in the 4th quarter valued at about $50,000. 84.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Michael A. Wisler sold 8,237 shares of the business’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 completion of the transaction, the executive vice president owned 4,643 shares of the company’s stock, valued at approximately $1,037,617.64. The trade was a 63.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Barnes sold 21,193 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $235.85, for a total value of $4,998,369.05. Following the transaction, the director directly owned 15,142 shares of the company’s stock, valued at $3,571,240.70. The trade was a 58.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,226 shares of company stock worth $7,237,259 over the last three months. Company insiders own 0.44% of the company’s stock.

M&T Bank Stock Up 1.0%

MTB stock opened at $219.68 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $32.73 billion, a PE ratio of 12.30, a PEG ratio of 1.11 and a beta of 0.60. M&T Bank Corporation has a twelve month low of $164.13 and a twelve month high of $239.00. The stock has a 50-day simple moving average of $213.58 and a two-hundred day simple moving average of $204.83.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm earned $3.32 EPS. On average, equities analysts predict that M&T Bank Corporation will post 18.66 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a stock buyback program on Tuesday, March 31st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 16.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. M&T Bank’s payout ratio is presently 33.59%.

Wall Street Analyst Weigh In

MTB has been the topic of a number of research reports. Cantor Fitzgerald lowered their price objective on M&T Bank from $255.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Truist Financial set a $230.00 target price on M&T Bank in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 29th. Wall Street Zen lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Argus lifted their target price on M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $235.55.

About M&T Bank

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.