Kestra Private Wealth Services LLC Sells 10,967 Shares of M&T Bank Co. (NYSE:MTB)

Kestra Private Wealth Services LLC decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 52.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,095 shares of the financial services provider’s stock after selling 10,967 shares during the period. Kestra Private Wealth Services LLC’s holdings in M&T Bank were worth $1,384,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MTB. GSA Capital Partners LLP purchased a new stake in shares of M&T Bank in the third quarter worth $833,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in M&T Bank by 8.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after buying an additional 305 shares during the period. NBC Securities Inc. purchased a new stake in M&T Bank in the 3rd quarter worth $299,000. Stevens Capital Management LP bought a new stake in M&T Bank during the fourth quarter valued at about $320,000. Finally, Metis Global Partners LLC lifted its position in shares of M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 931 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related news, Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the transaction, the director now directly owns 34,545 shares in the company, valued at approximately $5,081,914.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the sale, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 5,000 shares in the company, valued at approximately $718,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,119 shares of company stock worth $6,679,812. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MTB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Jefferies Financial Group cut 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 report on Monday, April 8th. Morgan Stanley boosted their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. DA Davidson restated a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Finally, StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday. One equities 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Stock Up 0.2 %

Shares of NYSE:MTB opened at $146.58 on Friday. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.22 and a beta of 0.78. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $148.93. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $141.64 and a 200 day moving average price of $134.37.

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 during the quarter, compared to the consensus estimate 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. As a group, equities research analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

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

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.