M&T Bank Co. (NYSE:MTB) Shares Sold by Greenleaf Trust

Greenleaf Trust reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 26.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,931 shares of the financial services provider’s stock after selling 700 shares during the period. Greenleaf Trust’s holdings in M&T Bank were worth $265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Headinvest LLC acquired a new position in shares of M&T Bank in the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC bought a new stake in M&T Bank during the fourth quarter worth approximately $32,000. Creative Financial Designs Inc. ADV acquired a new position in M&T Bank in the fourth quarter worth approximately $33,000. CVA Family Office LLC bought a new position in shares of M&T Bank in the fourth quarter valued at $33,000. Finally, Planned Solutions Inc. bought a new position in shares of M&T Bank in the fourth quarter valued at $33,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $147.96 on Thursday. The business’s 50-day simple moving average is $140.66 and its 200-day simple moving average is $133.54. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The firm has a market cap of $24.65 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion for 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 last year, the business earned $4.09 EPS. As a group, equities research analysts expect that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company 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. This represents a $5.20 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is 35.16%.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Insiders sold 37,119 shares of company stock worth $5,341,012 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of recent research reports. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Jefferies Financial Group reduced their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. DA Davidson reiterated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Keefe, Bruyette & Woods upped their price target on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Company Profile

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.