OLD National Bancorp IN Lowers Stock Holdings in M&T Bank Co. (NYSE:MTB)

OLD National Bancorp IN trimmed its stake in M&T Bank Co. (NYSE:MTB) by 14.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,352 shares of the financial services provider’s stock after selling 581 shares during the period. OLD National Bancorp IN’s holdings in M&T Bank were worth $459,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of M&T Bank by 6.1% in the 3rd quarter. CWM LLC now owns 5,059 shares of the financial services provider’s stock worth $640,000 after purchasing an additional 292 shares during the period. AE Wealth Management LLC lifted its position in shares of M&T Bank by 60.6% in the 3rd quarter. AE Wealth Management LLC now owns 6,165 shares of the financial services provider’s stock worth $780,000 after purchasing an additional 2,327 shares during the period. HB Wealth Management LLC purchased a new stake in shares of M&T Bank in the 3rd quarter worth approximately $219,000. Avior Wealth Management LLC lifted its position in shares of M&T Bank by 852.9% in the 3rd quarter. Avior Wealth Management LLC now owns 324 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 290 shares during the period. Finally, Caprock Group LLC lifted its position in shares of M&T Bank by 4.0% in the 3rd quarter. Caprock Group LLC now owns 6,063 shares of the financial services provider’s stock worth $767,000 after purchasing an additional 233 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the firm’s 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 transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Doris P. Meister sold 1,675 shares of the firm’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 completion of the transaction, 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 a total of 37,119 shares of company stock valued at $5,341,012 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Barclays upped their price target on shares of M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. boosted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, UBS Group boosted their price objective on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Stock Performance

MTB opened at $147.96 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $24.65 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.23 and a beta of 0.80. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.23. The firm’s fifty day simple moving average is $140.66 and its two-hundred day simple moving average is $133.54.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (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 analysts’ expectations 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 period in the previous year, the business earned $4.09 earnings per share. Equities analysts anticipate that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

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.