M&T Bank Co. (NYSE:MTB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its stake in shares of M&T Bank Co. (NYSE:MTBFree Report) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,629 shares of the financial services provider’s stock after selling 7,948 shares during the quarter. Janney Montgomery Scott LLC’s holdings in M&T Bank were worth $9,545,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of M&T Bank by 8.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 169,027 shares of the financial services provider’s stock worth $22,749,000 after purchasing an additional 12,934 shares during the period. M&G Investment Management Ltd. lifted its holdings in shares of M&T Bank by 8.5% during the fourth quarter. M&G Investment Management Ltd. now owns 59,963 shares of the financial services provider’s stock worth $8,215,000 after purchasing an additional 4,723 shares during the period. Westpac Banking Corp lifted its holdings in shares of M&T Bank by 95.7% during the fourth quarter. Westpac Banking Corp now owns 642 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 314 shares during the period. Massachusetts Financial Services Co. MA raised its position in M&T Bank by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock worth $237,265,000 after acquiring an additional 4,419 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its position in M&T Bank by 3.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,308 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 127 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MTB shares. Bank of America increased their price objective on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Jefferies Financial Group cut their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods increased their price objective on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $158.48.

Read Our Latest Research Report on M&T Bank

Insider Buying and Selling

In related news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Christopher E. Kay sold 1,821 shares of M&T Bank stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the transaction, the executive vice president now directly owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the transaction, the director now directly owns 35,480 shares in the company, valued at $5,481,660. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,034 shares of company stock worth $19,706,471. 0.82% of the stock is owned by corporate insiders.

M&T Bank Trading Up 0.2 %

M&T Bank stock opened at $153.79 on Friday. The stock has a market cap of $25.66 billion, a PE ratio of 10.40, a P/E/G ratio of 1.28 and a beta of 0.78. The stock has a 50-day moving average price of $144.31 and a 200 day moving average price of $137.34. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $156.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTBGet Free Report) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the business posted $4.09 EPS. Equities research analysts predict that M&T Bank Co. will post 14.02 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. Investors 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 3.38%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is presently 35.16%.

M&T Bank Profile

(Free Report)

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.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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