M&T Bank Co. (NYSE:MTB) Shares Sold by Radnor Capital Management LLC

Radnor Capital Management LLC lowered its holdings in shares of M&T Bank Co. (NYSE:MTB) by 36.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,266 shares of the financial services provider’s stock after selling 732 shares during the period. Radnor Capital Management LLC’s holdings in M&T Bank were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MTB. American Century Companies Inc. raised its position in shares of M&T Bank by 7.0% during the 2nd quarter. American Century Companies Inc. now owns 61,818 shares of the financial services provider’s stock worth $9,357,000 after purchasing an additional 4,067 shares during the last quarter. Envestnet Asset Management Inc. increased its position in M&T Bank by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 241,213 shares of the financial services provider’s stock worth $36,510,000 after buying an additional 13,278 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of M&T Bank by 6.7% in the second quarter. Citizens Financial Group Inc. RI now owns 1,474 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 92 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of M&T Bank by 1.5% during the second quarter. Mutual of America Capital Management LLC now owns 38,303 shares of the financial services provider’s stock valued at $5,798,000 after acquiring an additional 551 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB stock opened at $196.16 on Friday. The company’s fifty day simple moving average is $202.90 and its 200-day simple moving average is $183.07. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 52 week low of $128.31 and a 52 week high of $225.70. The company has a market cap of $32.55 billion, a PE ratio of 14.52, a P/E/G ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same period in the prior year, the business earned $2.74 earnings per share. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.58 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.75%. M&T Bank’s dividend payout ratio is currently 39.97%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MTB. Piper Sandler boosted their target price on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Compass Point boosted their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. Bank of America boosted their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $216.86.

Insider Activity

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at $14,972,576.88. This trade represents a 23.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. This trade represents a 20.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is currently owned by company insiders.

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.