Tompkins Financial Corp Reduces Stock Position in M&T Bank Co. (NYSE:MTB)

Tompkins Financial Corp decreased its position in M&T Bank Co. (NYSE:MTB) by 31.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,086 shares of the financial services provider’s stock after selling 500 shares during the quarter. Tompkins Financial Corp’s holdings in M&T Bank were worth $204,000 at the end of the most recent quarter.

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

Insider Activity at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rene F. Jones sold 23,071 shares of M&T Bank stock in a transaction on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares in the company, valued at $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is owned by insiders.

M&T Bank Price Performance

MTB opened at $196.16 on Friday. The company’s 50-day simple moving average is $202.90 and its two-hundred day simple moving average is $183.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $32.55 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.16 and a beta of 0.79. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same quarter in the prior year, the business earned $2.74 EPS. As a group, analysts predict 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. Investors of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s payout ratio is currently 39.97%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTB. Wedbush increased their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Truist Financial began coverage on M&T Bank in a research note on Tuesday, January 7th. They issued a “buy” rating and a $233.00 target price for the company. Piper Sandler upped their price target on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group upped their target price on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. 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 data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus target price of $216.86.

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.