LSV Asset Management Trims Position in M&T Bank Co. (NYSE:MTB)

LSV Asset Management trimmed its position in M&T Bank Co. (NYSE:MTB) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,099,982 shares of the financial services provider’s stock after selling 8,570 shares during the period. LSV Asset Management’s holdings in M&T Bank were worth $150,786,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Burns J W & Co. Inc. NY grew its position in M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after buying an additional 80 shares during the period. First Horizon Advisors Inc. raised its holdings in M&T Bank by 3.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 80 shares during the period. Robinson Value Management Ltd. grew its holdings in M&T Bank by 0.3% during the third quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock valued at $4,241,000 after purchasing an additional 85 shares during the period. Sunbelt Securities Inc. increased its position in M&T Bank by 41.7% in the third quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock worth $43,000 after buying an additional 100 shares in the last quarter. Finally, CI Investments Inc. raised its stake in shares of M&T Bank by 2.9% in the third quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock worth $471,000 after buying an additional 104 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MTB shares. Morgan Stanley increased their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Jefferies Financial Group lowered their target price 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. Evercore ISI increased their price target on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. UBS Group boosted their price objective on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, Piper Sandler cut their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, nine have given 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 a consensus target price of $158.48.

Insider Transactions at M&T Bank

In related news, Director John P. Barnes sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the sale, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the sale, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at $718,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares in the company, valued at approximately $5,081,914.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,119 shares of company stock worth $6,679,812. 0.82% of the stock is currently owned by insiders.

M&T Bank Trading Up 0.2 %

NYSE MTB traded up $0.31 during trading hours on Friday, hitting $146.58. 531,891 shares of the company were exchanged, compared to its average volume of 1,021,836. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.93. 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 stock has a 50-day moving average price of $141.64 and a 200 day moving average price of $134.37. The stock has a market cap of $24.42 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the prior year, the firm posted $4.09 EPS. Analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend 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.