Wilbanks Smith & Thomas Asset Management LLC Sells 106 Shares of M&T Bank Co. (NYSE:MTB)

Wilbanks Smith & Thomas Asset Management LLC lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,794 shares of the financial services provider’s stock after selling 106 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in M&T Bank were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

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

M&T Bank Stock Performance

Shares of MTB opened at $146.58 on Friday. M&T Bank Co. has a one year low of $108.53 and a one year high of $148.93. The company has a market cap of $24.42 billion, a PE ratio of 9.91, a P/E/G ratio of 1.22 and a beta of 0.78. The stock has a 50-day moving average of $141.64 and a 200-day moving average of $134.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $4.09 EPS. On average, equities research analysts predict that M&T Bank Co. will post 13.92 EPS 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. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.55%. M&T Bank’s payout ratio is 35.16%.

Insider Buying and Selling at M&T Bank

In other news, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of 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 Securities & Exchange Commission, which is available at this link. 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 in the company, valued at $718,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,119 shares of company stock valued at $6,679,812. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore ISI raised their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Bank of America increased their target price on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their price target on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group decreased their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.