Private Trust Co. NA Decreases Holdings in M&T Bank Co. (NYSE:MTB)

Private Trust Co. NA lowered its stake in M&T Bank Co. (NYSE:MTB) by 30.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 474 shares of the financial services provider’s stock after selling 209 shares during the period. Private Trust Co. NA’s holdings in M&T Bank were worth $84,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd boosted its holdings in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new stake in M&T Bank in the third quarter worth $32,000. Hexagon Capital Partners LLC boosted its stake in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares during the period. Oakworth Capital Inc. bought a new position in M&T Bank during the second quarter valued at $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

Shares of MTB stock opened at $219.99 on Friday. The firm has a market cap of $36.50 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.11 and a beta of 0.74. M&T Bank Co. has a 52-week low of $125.61 and a 52-week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $196.45 and its 200 day moving average is $171.86.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, sell-side analysts anticipate that M&T Bank Co. will post 14.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.45%. M&T Bank’s dividend payout ratio is presently 39.97%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTB. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday. Evercore ISI boosted their target price on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Finally, Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $230.00 in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average price target of $206.41.

Insider Buying and Selling at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,504 shares of company stock valued at $18,394,012. 0.82% of the stock is currently owned by insiders.

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.