M&T Bank Co. (NYSE:MTB) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,111 shares of the financial services provider’s stock after selling 233 shares during the period. Moors & Cabot Inc.’s holdings in M&T Bank were worth $651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC increased its holdings in shares of M&T Bank by 54,440.2% during the second quarter. Nuveen Asset Management LLC now owns 1,993,989 shares of the financial services provider’s stock valued at $339,118,000 after purchasing an additional 1,990,333 shares during the period. Wells Fargo & Company MN increased its holdings in shares of M&T Bank by 1.5% during the second quarter. Wells Fargo & Company MN now owns 1,635,419 shares of the financial services provider’s stock valued at $278,136,000 after purchasing an additional 24,948 shares during the period. Northern Trust Corp increased its holdings in shares of M&T Bank by 2.0% during the second quarter. Northern Trust Corp now owns 1,548,635 shares of the financial services provider’s stock valued at $263,376,000 after purchasing an additional 30,412 shares during the period. Janus Henderson Group PLC increased its holdings in shares of M&T Bank by 3.5% during the second quarter. Janus Henderson Group PLC now owns 821,566 shares of the financial services provider’s stock valued at $139,722,000 after purchasing an additional 28,071 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of M&T Bank by 6.2% during the second quarter. Bank of America Corp DE now owns 762,483 shares of the financial services provider’s stock valued at $129,676,000 after purchasing an additional 44,179 shares during the period. 82.00% of the stock is currently owned by institutional investors.

NYSE:MTB opened at $157.80 on Thursday. The business’s 50-day moving average price is $154.46 and its 200 day moving average price is $160.82. The firm has a market cap of $20.90 billion, a P/E ratio of 12.27, a PEG ratio of 1.27 and a beta of 1.10. M&T Bank Co. has a 52-week low of $133.78 and a 52-week high of $176.11. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 0.48.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.12). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. During the same period in the previous year, the firm earned $3.53 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 13.72 EPS for the current year.

The company also recently announced 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. This represents a $4.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Friday, August 30th. M&T Bank’s payout ratio is currently 31.10%.

In related news, EVP John L. Dangelo sold 650 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $154.58, for a total value of $100,477.00. Following the completion of the transaction, the executive vice president now owns 3,016 shares in the company, valued at approximately $466,213.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William J. Farrell II sold 3,070 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $163.82, for a total value of $502,927.40. Following the completion of the transaction, the executive vice president now owns 10,774 shares of the company’s stock, valued at approximately $1,764,996.68. The disclosure for this sale can be found here. Insiders sold a total of 4,828 shares of company stock valued at $770,668 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

A number of brokerages have recently commented on MTB. UBS Group lowered their price target on M&T Bank from $164.00 to $161.00 and set a “neutral” rating on the stock in a report on Monday. Wedbush lowered their price target on M&T Bank from $166.00 to $163.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Citigroup lowered their target price on M&T Bank from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Zacks Investment Research lowered M&T Bank from a “hold” rating to a “sell” rating and set a $166.00 target price on the stock. in a report on Wednesday, September 18th. Finally, Jefferies Financial Group lowered M&T Bank from a “buy” rating to a “hold” rating and lowered their target price for the stock from $185.00 to $167.00 in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $167.83.

M&T Bank Company 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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