M&T Bank Co. (NYSE:MTB) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. reduced its position in M&T Bank Co. (NYSE:MTB) by 24.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,157 shares of the financial services provider’s stock after selling 373 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in M&T Bank were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Plato Investment Management Ltd raised its position 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 buying an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank in the 3rd quarter worth $32,000. Hexagon Capital Partners LLC raised its position in shares of M&T Bank by 54.4% in the 3rd 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. purchased a new position in shares of M&T Bank in the 2nd quarter worth $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after buying an additional 158 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTB has been the topic of several research reports. DA Davidson increased their target price on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Bank of America raised their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their price objective on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wedbush raised their price objective on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $198.76.

Insider Buying and Selling

In other news, Director Kirk W. Walters sold 1,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total transaction of $334,249.80. Following the completion of the transaction, the director now directly owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. This represents a 43.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael J. Todaro sold 4,786 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total value of $1,024,682.60. Following the transaction, the executive vice president now directly owns 2,787 shares of the company’s stock, valued at $596,696.70. This trade represents a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,854 shares of company stock worth $13,637,588. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 0.6 %

Shares of M&T Bank stock opened at $213.27 on Friday. The company has a market capitalization of $35.39 billion, a PE ratio of 15.79, a P/E/G ratio of 2.98 and a beta of 0.74. M&T Bank Co. has a 1-year low of $123.37 and a 1-year high of $216.84. The business has a 50-day moving average of $185.26 and a 200-day moving average of $166.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during 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%. As a group, equities analysts forecast that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.53%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

M&T Bank 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.