M&T Bank Co. (NYSE:MTB) Shares Sold by Latitude Advisors LLC

Latitude Advisors LLC trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,805 shares of the financial services provider’s stock after selling 160 shares during the period. Latitude Advisors LLC’s holdings in M&T Bank were worth $247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MTB. Clear Street Markets LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth $25,000. RVW Wealth LLC acquired a new stake in M&T Bank in the 3rd quarter valued at $27,000. Quarry LP acquired a new stake in M&T Bank in the 1st quarter valued at $27,000. Sunbelt Securities Inc. acquired a new stake in M&T Bank in the 1st quarter valued at $27,000. Finally, Headinvest LLC acquired a new stake in M&T Bank in the 3rd quarter valued at $29,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Performance

NYSE MTB traded down $3.55 during trading hours on Wednesday, reaching $137.39. The company’s stock had a trading volume of 1,233,249 shares, compared to its average volume of 997,402. 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 business has a 50-day simple moving average of $139.44 and a 200 day simple moving average of $132.72. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.23. The stock has a market cap of $22.89 billion, a PE ratio of 9.29, a PEG ratio of 1.30 and a beta of 0.80.

M&T Bank (NYSE:MTB) last announced 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 firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the business posted $4.09 EPS. Equities research analysts predict that M&T Bank Co. will post 13.89 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid 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 3.78%. M&T Bank’s dividend payout ratio is presently 35.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTB. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a report on Wednesday, April 10th. Barclays raised their target price on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Evercore ISI raised their target price on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. raised their target price on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods raised their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $157.98.

Insider Activity at M&T Bank

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