Desjardins Global Asset Management Inc. Sells 112 Shares of M&T Bank Co. (NYSE:MTB)

Desjardins Global Asset Management Inc. lessened its holdings in shares of M&T Bank Co. (NYSE:MTB) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,316 shares of the financial services provider’s stock after selling 112 shares during the period. Desjardins Global Asset Management Inc.’s holdings in M&T Bank were worth $180,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Clear Street Markets LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $25,000. RVW Wealth LLC bought a new stake in shares of M&T Bank during the 3rd quarter valued at $27,000. Quarry LP bought a new position in M&T Bank in the 1st quarter worth about $27,000. Sunbelt Securities Inc. bought a new position in M&T Bank in the 1st quarter worth about $27,000. Finally, BKM Wealth Management LLC bought a new position in M&T Bank in the 4th quarter worth about $32,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

NYSE MTB opened at $139.30 on Friday. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.23. The firm has a market capitalization of $23.21 billion, a P/E ratio of 9.42, a PEG ratio of 1.16 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $139.76 and a 200-day moving average price of $132.81.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the company earned $4.09 EPS. Equities research analysts anticipate that M&T Bank Co. will post 13.95 earnings per share for the current 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. This represents a $5.20 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is currently 35.16%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MTB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday. Jefferies Financial Group dropped their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Bank of America upped their price target on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $158.48.

Insider Activity

In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock valued at $5,114,624 in the last quarter. 0.82% of the stock is currently owned by insiders.

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.