SevenBridge Financial Group LLC Lowers Position in M&T Bank Co. (NYSE:MTB)

SevenBridge Financial Group LLC lessened its holdings in M&T Bank Co. (NYSE:MTB) by 10.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,280 shares of the financial services provider’s stock after selling 510 shares during the period. SevenBridge Financial Group LLC’s holdings in M&T Bank were worth $676,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Trust Advisors LP grew its holdings in shares of M&T Bank by 6.5% during the first quarter. First Trust Advisors LP now owns 290,521 shares of the financial services provider’s stock worth $45,618,000 after purchasing an additional 17,646 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of M&T Bank by 4,633.3% during the first quarter. Rockefeller Capital Management L.P. now owns 852 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 834 shares during the last quarter. GAM Holding AG grew its holdings in shares of M&T Bank by 95.5% during the first quarter. GAM Holding AG now owns 5,002 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 2,443 shares during the last quarter. Tyers Asset Management LLC grew its holdings in shares of M&T Bank by 9.2% during the first quarter. Tyers Asset Management LLC now owns 4,960 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 416 shares during the last quarter. Finally, FSI Group LLC bought a new stake in shares of M&T Bank during the first quarter worth $3,947,000. Institutional investors own 82.08% of the company’s stock.

Shares of NYSE MTB traded up $1.75 during mid-day trading on Wednesday, reaching $152.25. 4,292 shares of the company’s stock were exchanged, compared to its average volume of 751,734. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $20.12 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 2.16 and a beta of 1.10. M&T Bank Co. has a twelve month low of $133.78 and a twelve month high of $176.11. The business has a fifty day simple moving average of $151.79 and a 200 day simple moving average of $160.99.



M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.70 by ($0.36). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. During the same quarter in the previous year, the business posted $3.26 earnings per share. Equities research analysts predict that M&T Bank Co. will post 13.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.63%. M&T Bank’s payout ratio is presently 31.10%.

MTB has been the topic of several research analyst reports. ValuEngine upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods cut their target price on M&T Bank from $189.00 to $185.00 and set an “outperform” rating on the stock in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their target price on M&T Bank from $173.00 to $174.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Barclays cut their target price on M&T Bank from $217.00 to $206.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Finally, Piper Jaffray Companies lowered M&T Bank from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $196.00 to $168.00 in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $175.07.

In related news, EVP William J. Farrell II sold 3,070 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $163.82, for a total transaction of $502,927.40. Following the completion of the transaction, the executive vice president now directly owns 10,774 shares in the company, valued at $1,764,996.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael J. Todaro acquired 186 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $144.84 per share, with a total value of $26,940.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 4,828 shares of company stock valued at $770,668. 0.54% of the stock is owned by corporate insiders.

M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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