Amalgamated Bank Has $5.65 Million Position in M&T Bank Co. (NYSE:MTB)

Amalgamated Bank reduced its position in M&T Bank Co. (NYSE:MTB) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 41,232 shares of the financial services provider’s stock after selling 801 shares during the period. Amalgamated Bank’s holdings in M&T Bank were worth $5,652,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HHM Wealth Advisors LLC bought a new position in shares of M&T Bank during the 4th quarter worth approximately $25,000. Headinvest LLC acquired a new position in shares of M&T Bank in the third quarter valued at $29,000. BKM Wealth Management LLC bought a new position in shares of M&T Bank in the fourth quarter valued at about $32,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of M&T Bank during the 4th quarter worth about $33,000. Finally, CVA Family Office LLC acquired a new position in M&T Bank in the 4th quarter valued at about $33,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 1.8 %

Shares of M&T Bank stock opened at $149.24 on Tuesday. The firm has a market capitalization of $24.87 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $142.08 and its 200 day moving average is $134.91. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $149.29.

M&T Bank (NYSE:MTB) last announced 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). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company posted $4.09 earnings per share. Equities research analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed 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 was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.48%. M&T Bank’s dividend payout ratio is 35.16%.

Insider Activity at M&T Bank

In other M&T Bank 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 transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction 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 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 SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 46,119 shares of company stock worth $6,679,812 over the last three months. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTB. Jefferies Financial Group cut their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. 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. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $158.48.

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.