Whittier Trust Co. of Nevada Inc. Cuts Position in M&T Bank Co. (NYSE:MTB)

Whittier Trust Co. of Nevada Inc. cut its stake in M&T Bank Co. (NYSE:MTBFree Report) by 4.1% during the fourth quarter, HoldingsChannel reports. The fund owned 2,035 shares of the financial services provider’s stock after selling 86 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in M&T Bank were worth $279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in M&T Bank by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 48,056,301 shares of the financial services provider’s stock worth $960,645,000 after buying an additional 595,930 shares during the last quarter. BlackRock Inc. grew its stake in M&T Bank by 1.1% during the 1st quarter. BlackRock Inc. now owns 36,670,981 shares of the financial services provider’s stock worth $733,054,000 after buying an additional 402,530 shares during the last quarter. State Street Corp grew its stake in M&T Bank by 0.7% during the 1st quarter. State Street Corp now owns 7,985,096 shares of the financial services provider’s stock worth $954,778,000 after buying an additional 55,623 shares during the last quarter. JPMorgan Chase & Co. grew its stake in M&T Bank by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,095,725 shares of the financial services provider’s stock worth $728,866,000 after buying an additional 571,869 shares during the last quarter. Finally, Virtu Financial LLC grew its stake in M&T Bank by 17,405.3% during 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. 82.86% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Price Performance

MTB stock opened at $142.14 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day simple moving average of $138.25 and a 200-day simple moving average of $130.77. The firm has a market capitalization of $23.68 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 1.27 and a beta of 0.79. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.23.

M&T Bank (NYSE:MTBGet Free Report) last posted its quarterly earnings results 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 company 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 quarter last year, the company earned $4.57 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 13.88 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 4th will be given a $1.30 dividend. The ex-dividend date is Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.66%. M&T Bank’s payout ratio is 32.95%.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,481 shares of company stock worth $5,114,624. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MTB. Morgan Stanley boosted their price target on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. UBS Group boosted their price target on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research note on Friday, January 19th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, Barclays boosted their price target on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $149.71.

View Our Latest Analysis on MTB

M&T Bank Company Profile

(Free Report)

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.

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

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