Daymark Wealth Partners LLC Sells 1,945 Shares of M&T Bank Co. (NYSE:MTB)

Daymark Wealth Partners LLC reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,187 shares of the financial services provider’s stock after selling 1,945 shares during the period. Daymark Wealth Partners LLC’s holdings in M&T Bank were worth $4,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd boosted its position in M&T Bank by 2,300.0% during 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 acquired a new position in shares of M&T Bank during the third quarter worth $32,000. Hexagon Capital Partners LLC lifted its holdings in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in M&T Bank during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Compass Point upped their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group upped their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. Finally, Bank of America lifted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Stock Performance

Shares of MTB opened at $198.25 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93. The stock has a market capitalization of $32.89 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.38 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. The stock’s 50-day simple moving average is $201.76 and its 200 day simple moving average is $184.65.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the company earned $2.74 earnings per share. Research analysts forecast that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.72%. M&T Bank’s payout ratio is currently 36.91%.

Insider Buying and Selling

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the sale, the executive vice president now directly owns 5,618 shares of the company’s stock, 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 quarter, insiders have sold 64,994 shares of company stock worth $13,331,878. 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.