Chartwell Investment Partners LLC Sells 1,024 Shares of M&T Bank Co. (NYSE:MTB)

Chartwell Investment Partners LLC cut its position in shares of M&T Bank Co. (NYSE:MTB) by 12.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,167 shares of the financial services provider’s stock after selling 1,024 shares during the period. Chartwell Investment Partners LLC’s holdings in M&T Bank were worth $1,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTB. Envestnet Portfolio Solutions Inc. raised its holdings in shares of M&T Bank by 13.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,471 shares of the financial services provider’s stock worth $650,000 after buying an additional 535 shares during the period. Empowered Funds LLC boosted its position in M&T Bank by 26.7% during the 1st quarter. Empowered Funds LLC now owns 2,204 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 465 shares in the last quarter. Sei Investments Co. boosted its position in M&T Bank by 0.7% during the 1st quarter. Sei Investments Co. now owns 52,092 shares of the financial services provider’s stock valued at $7,578,000 after acquiring an additional 338 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in M&T Bank by 3.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 70 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of M&T Bank in the 1st quarter worth $213,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

NYSE MTB opened at $213.27 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 1.00. M&T Bank Co. has a 1 year low of $116.07 and a 1 year high of $216.84. The company has a market capitalization of $35.39 billion, a PE ratio of 15.79, a P/E/G ratio of 2.97 and a beta of 0.74. The company has a fifty day moving average of $183.56 and a two-hundred day moving average of $165.45.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate 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 net margin of 17.82% and a return on equity of 9.52%. As a group, analysts expect that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued 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 presently 39.97%.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of recent analyst reports. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Bank of America lifted their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup lifted their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada lifted their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $198.76.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kirk W. Walters sold 1,590 shares of the firm’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 sale, the director now owns 2,108 shares in the company, valued at approximately $443,143.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,088 shares of company stock valued at $12,613,397. Corporate insiders own 0.82% of the company’s stock.

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.