M&T Bank Co. (NYSE:MTB) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC trimmed its stake in shares of M&T Bank Co. (NYSE:MTB) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,632 shares of the financial services provider’s stock after selling 384 shares during the quarter. Chartwell Investment Partners LLC’s holdings in M&T Bank were worth $3,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Investors Research Corp boosted its position in M&T Bank by 100.0% during the 2nd quarter. Investors Research Corp now owns 372 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 186 shares during the period. Beese Fulmer Investment Management Inc. acquired a new stake in M&T Bank during the 2nd quarter worth about $42,000. BDO Wealth Advisors LLC purchased a new position in M&T Bank during the 1st quarter valued at about $43,000. Arlington Partners LLC purchased a new position in M&T Bank during the 1st quarter valued at about $48,000. Finally, Signaturefd LLC grew its stake in M&T Bank by 49.5% during the 1st quarter. Signaturefd LLC now owns 486 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

In other news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $112.64, for a total transaction of $112,640.00. Following the transaction, the executive vice president now owns 1,789 shares in the company, valued at approximately $201,512.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Shares of NYSE MTB opened at $105.95 on Friday. M&T Bank Co. has a 12 month low of $85.09 and a 12 month high of $174.00. The company has a market cap of $13.59 billion, a P/E ratio of 9.83, a P/E/G ratio of 4.21 and a beta of 1.22. The business’s 50 day moving average is $103.81 and its two-hundred day moving average is $121.08. The company has a quick ratio of 1.07, a current ratio of 1.02 and a debt-to-equity ratio of 0.43.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.11. M&T Bank had a net margin of 22.36% and a return on equity of 10.22%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the firm posted $3.37 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 8.97 earnings per share for the current fiscal year.

MTB has been the topic of several research analyst reports. Morgan Stanley lifted their target price on M&T Bank from $133.00 to $136.00 and gave the company an “equal weight” rating in a research note on Monday, June 8th. Wolfe Research initiated coverage on M&T Bank in a research note on Friday. They set an “outperform” rating on the stock. Nomura reaffirmed a “hold” rating and set a $107.00 target price on shares of M&T Bank in a research note on Wednesday, April 22nd. Cfra lowered their target price on M&T Bank from $176.00 to $109.00 and set a “hold” rating on the stock in a research note on Tuesday, April 21st. Finally, Nomura Securities dropped their price objective on M&T Bank from $176.00 to $107.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $138.91.

About M&T Bank

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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