LGT Capital Partners LTD. Decreases Stake in M&T Bank Co. (NYSE:MTB)

LGT Capital Partners LTD. trimmed its holdings in M&T Bank Co. (NYSE:MTB) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 155,670 shares of the financial services provider’s stock after selling 1,790 shares during the period. LGT Capital Partners LTD. owned 0.09% of M&T Bank worth $21,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MTB. GSA Capital Partners LLP purchased a new stake in shares of M&T Bank during the 3rd quarter valued at $833,000. Tokio Marine Asset Management Co. Ltd. raised its stake in M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 305 shares in the last quarter. NBC Securities Inc. acquired a new position in M&T Bank during the 3rd quarter worth $299,000. Metis Global Partners LLC raised its stake in shares of M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 931 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in shares of M&T Bank by 20.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 340,661 shares of the financial services provider’s stock worth $46,698,000 after acquiring an additional 58,130 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.4 %

Shares of MTB stock opened at $145.44 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $139.09 and its two-hundred day moving average is $131.39. The company has a market cap of $24.23 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 1.28 and a beta of 0.79. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $148.23.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.36). The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. During the same quarter in the previous year, the company earned $4.57 EPS. Equities analysts predict that M&T Bank Co. will post 13.87 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 4th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, March 1st. M&T Bank’s payout ratio is currently 32.95%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTB. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price target on the stock. in a research report on Monday, December 18th. Piper Sandler reduced their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 19th. Finally, Evercore ISI boosted their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $150.17.

Insider Buying and Selling at M&T Bank

In related news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares of the company’s stock, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock valued at $5,114,624 in the last ninety days. Company insiders own 0.82% of the company’s stock.

About M&T Bank

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.