Amalgamated Bank Sells 867 Shares of M&T Bank Co. (NYSE:MTB)

Amalgamated Bank decreased its position in M&T Bank Co. (NYSE:MTBFree Report) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,033 shares of the financial services provider’s stock after selling 867 shares during the period. Amalgamated Bank’s holdings in M&T Bank were worth $5,315,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTB. Virtu Financial LLC boosted its holdings in shares of M&T Bank by 17,405.3% in the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock worth $105,417,000 after buying an additional 5,243,349 shares during the last quarter. Spring Creek Capital LLC grew its holdings in M&T Bank by 217.0% during the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock valued at $66,759,000 after purchasing an additional 2,286,251 shares during the period. Norges Bank purchased a new position in shares of M&T Bank during the 4th quarter valued at $231,022,000. Goldman Sachs Group Inc. grew its stake in shares of M&T Bank by 76.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock worth $71,171,000 after acquiring an additional 1,538,436 shares during the period. Finally, Morgan Stanley increased its holdings in M&T Bank by 71.6% in the 4th quarter. Morgan Stanley now owns 2,986,977 shares of the financial services provider’s stock worth $433,291,000 after acquiring an additional 1,246,265 shares during the last quarter. Hedge funds and other institutional investors own 82.86% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $132.27 on Wednesday. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 1.14 and a beta of 0.80. The business has a 50 day moving average of $136.25 and a 200 day moving average of $129.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.93 and a quick ratio of 0.98. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $161.99.

M&T Bank (NYSE:MTBGet Free Report) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. During the same period last year, the company posted $4.57 EPS. On average, sell-side analysts predict that M&T Bank Co. will post 14.34 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a dividend of $1.30 per share. The ex-dividend date was Thursday, November 30th. This represents a $5.20 annualized dividend and a yield of 3.93%. M&T Bank’s payout ratio is 32.95%.

Insiders Place Their Bets

In other M&T Bank news, EVP Robert J. Bojdak sold 800 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $126.17, for a total value of $100,936.00. Following the transaction, the executive vice president now owns 16,897 shares in the company, valued at $2,131,894.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John P. Barnes sold 16,378 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $133.28, for a total transaction of $2,182,859.84. Following the transaction, the director now owns 34,545 shares in the company, valued at $4,604,157.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert J. Bojdak sold 800 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $126.17, for a total transaction of $100,936.00. Following the completion of the sale, the executive vice president now owns 16,897 shares of the company’s stock, valued at $2,131,894.49. The disclosure for this sale can be found here. Insiders have sold 80,122 shares of company stock valued at $10,561,048 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays boosted their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Morgan Stanley lifted their price target on M&T Bank from $157.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, December 4th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Wedbush reduced their target price on M&T Bank from $147.00 to $140.00 and set an “outperform” rating for the company in a report on Thursday, October 19th. Finally, UBS Group increased their price target on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $148.44.

Read Our Latest Stock Analysis on M&T Bank

About M&T Bank

(Free Report)

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

Further Reading

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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