M&T Bank Co. (NYSE:MTB) Shares Sold by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,695 shares of the financial services provider’s stock after selling 200 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in M&T Bank were worth $1,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the period. State Street Corp raised its holdings in shares of M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after acquiring an additional 527,854 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after acquiring an additional 190,837 shares in the last quarter. Geode Capital Management LLC boosted its stake in M&T Bank by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after purchasing an additional 66,337 shares during the period. Finally, Senvest Management LLC grew its position in M&T Bank by 12.3% during the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock worth $157,252,000 after purchasing an additional 96,500 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the sale, the insider now directly owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,994 shares of company stock worth $13,331,878 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MTB shares. Compass Point raised their target price on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Bank of America upped their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Evercore ISI raised their price target on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Stock Performance

NYSE:MTB opened at $196.88 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day moving average is $202.41 and its 200-day moving average is $183.95. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same period in the previous year, the business posted $2.74 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 14.58 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. M&T Bank’s dividend payout ratio is currently 39.97%.

About M&T Bank

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.