M&T Bank Co. (NYSE:MTB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in M&T Bank Co. (NYSE:MTB) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,778 shares of the financial services provider’s stock after selling 1,294 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of M&T Bank worth $32,556,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP lifted its holdings in M&T Bank by 232.1% in the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after acquiring an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Canoe Financial LP grew its holdings in shares of M&T Bank by 29.4% during the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock worth $103,200,000 after purchasing an additional 133,748 shares during the period. International Assets Investment Management LLC increased its position in shares of M&T Bank by 17,784.1% during the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after purchasing an additional 109,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $214.74 on Friday. The firm has a market capitalization of $35.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The business’s fifty day moving average price is $187.11 and its 200 day moving average price is $167.05. M&T Bank Co. has a 12 month low of $123.37 and a 12 month high of $216.84.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, sell-side analysts anticipate that M&T Bank Co. will post 14.56 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 Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.51%. M&T Bank’s payout ratio is currently 39.97%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday. Royal Bank of Canada lifted their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. DA Davidson increased their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, Evercore ISI raised their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $199.65.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 1,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the sale, the director now owns 2,108 shares in the company, valued at approximately $443,143.76. The trade was a 43.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. This trade represents a 20.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,854 shares of company stock worth $13,637,588. 0.82% of the stock is currently owned by insiders.

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.