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

Tobam cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 62.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 515 shares of the financial services provider’s stock after selling 867 shares during the period. Tobam’s holdings in M&T Bank were worth $71,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Virtu Financial LLC increased its position in shares of 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 valued at $105,417,000 after purchasing an additional 5,243,349 shares during the last quarter. Spring Creek Capital LLC increased its position in shares of M&T Bank by 217.0% during the 1st 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 last quarter. Norges Bank purchased a new stake in shares of M&T Bank during the 4th quarter valued at $231,022,000. Goldman Sachs Group Inc. increased its position 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 valued at $71,171,000 after purchasing an additional 1,538,436 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of M&T Bank by 71.6% during the 4th quarter. Morgan Stanley now owns 2,986,977 shares of the financial services provider’s stock valued at $433,291,000 after purchasing an additional 1,246,265 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MTB. Deutsche Bank Aktiengesellschaft lowered M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a research report on Monday, December 18th. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. UBS Group lifted their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Finally, Barclays lifted their price objective on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $155.21.

Insider Activity

In other news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated 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 completion of the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Up 0.2 %

MTB stock opened at $135.16 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $22.52 billion, a PE ratio of 8.56, a PEG ratio of 1.25 and a beta of 0.80. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.23. The stock has a 50-day simple moving average of $139.16 and a two-hundred day simple moving average of $132.36.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). The company had revenue of $3.32 billion for 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 in the previous year, the firm earned $4.57 EPS. On average, equities analysts predict that M&T Bank Co. will post 13.84 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.85%. M&T Bank’s dividend payout ratio (DPR) is presently 32.95%.

M&T Bank 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.