M&T Bank Co. (NYSE:MTB) Shares Sold by National Wealth Management Group LLC

National Wealth Management Group LLC trimmed its holdings in M&T Bank Co. (NYSE:MTB) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,712 shares of the financial services provider’s stock after selling 258 shares during the period. National Wealth Management Group LLC’s holdings in M&T Bank were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTB. Franklin Resources Inc. raised its holdings in M&T Bank by 84.9% in the 4th quarter. Franklin Resources Inc. now owns 39,726 shares of the financial services provider’s stock valued at $7,469,000 after acquiring an additional 18,245 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in M&T Bank by 81.0% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 15,888 shares of the financial services provider’s stock worth $2,987,000 after buying an additional 7,109 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in M&T Bank by 17.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 46,261 shares of the financial services provider’s stock valued at $8,698,000 after buying an additional 6,834 shares during the period. Clearbridge Investments LLC increased its stake in shares of M&T Bank by 4.1% during the 4th quarter. Clearbridge Investments LLC now owns 438,577 shares of the financial services provider’s stock valued at $82,457,000 after acquiring an additional 17,376 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of M&T Bank by 6.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,652 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by insiders.

M&T Bank Trading Up 2.1 %

M&T Bank stock opened at $178.94 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The firm’s 50-day moving average is $189.08 and its 200-day moving average is $192.90. The company has a market cap of $29.40 billion, a P/E ratio of 12.23, a PEG ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business posted $2.74 EPS. On average, equities analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Monday, March 3rd. M&T Bank’s payout ratio is 36.91%.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of research analyst reports. Citigroup decreased their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Compass Point raised their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company decreased their price objective on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Barclays raised their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $218.79.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.