Wilbanks Smith & Thomas Asset Management LLC Sells 106 Shares of M&T Bank Co. (NYSE:MTB)

Wilbanks Smith & Thomas Asset Management LLC cut its position in shares of M&T Bank Co. (NYSE:MTB) by 3.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,794 shares of the financial services provider’s stock after selling 106 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in M&T Bank were worth $383,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Burns J W & Co. Inc. NY lifted its position in shares of M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 80 shares during the last quarter. Robinson Value Management Ltd. grew its stake in M&T Bank by 0.3% in the 3rd quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock worth $4,241,000 after acquiring an additional 85 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of M&T Bank by 41.7% during the third quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 100 shares during the period. CI Investments Inc. raised its stake in shares of M&T Bank by 2.9% during the third quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 104 shares in the last quarter. Finally, Steamboat Capital Partners LLC boosted its holdings in shares of M&T Bank by 1.9% in the third quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 109 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

NYSE MTB opened at $146.58 on Friday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The firm has a market capitalization of $24.42 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78. The stock’s fifty day moving average is $141.64 and its two-hundred day moving average is $134.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the business posted $4.09 earnings per share. On average, research analysts anticipate that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.55%. M&T Bank’s payout ratio is currently 35.16%.

Insider Transactions at M&T Bank

In other news, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction 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 completion of the sale, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the sale, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold 46,119 shares of company stock valued at $6,679,812 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. Jefferies Financial Group cut their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Bank of America upped their target price on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $158.48.

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.