Cwm LLC Sells 371 Shares of M&T Bank Co. (NYSE:MTB)

Cwm LLC reduced its stake in M&T Bank Co. (NYSE:MTB) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,688 shares of the financial services provider’s stock after selling 371 shares during the period. Cwm LLC’s holdings in M&T Bank were worth $643,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MTB. GSA Capital Partners LLP bought a new position in shares of M&T Bank in the third quarter valued at approximately $833,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in M&T Bank by 8.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares during the period. NBC Securities Inc. purchased a new position in shares of M&T Bank during the 3rd quarter valued at $299,000. Metis Global Partners LLC increased its holdings in shares of M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares during the period. Finally, Matrix Asset Advisors Inc. NY raised its position in shares of M&T Bank by 15.7% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after buying an additional 12,590 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Doris P. Meister sold 3,961 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank 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 completion of the sale, the executive vice president now directly 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. Insiders sold a total of 47,119 shares of company stock valued at $6,812,112 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MTB shares. Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. DA Davidson reiterated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Barclays raised their price target on 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. Finally, UBS Group upped their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $158.48.

M&T Bank Price Performance

Shares of MTB stock opened at $145.54 on Tuesday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.93. The stock has a market cap of $24.25 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.22 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 business’s fifty day moving average is $141.15 and its 200 day moving average is $134.03.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the previous year, the business earned $4.09 earnings per share. Research analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.57%. M&T Bank’s payout ratio is currently 35.16%.

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.