ST Germain D J Co. Inc. Lowers Stock Holdings in M&T Bank Co. (NYSE:MTB)

ST Germain D J Co. Inc. reduced its position in shares of M&T Bank Co. (NYSE:MTBFree Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,698 shares of the financial services provider’s stock after selling 847 shares during the period. ST Germain D J Co. Inc.’s holdings in M&T Bank were worth $2,283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in shares of M&T Bank by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock valued at $237,265,000 after acquiring an additional 4,419 shares in the last quarter. Norges Bank acquired a new stake in shares of M&T Bank in the fourth quarter valued at $232,322,000. Northern Trust Corp raised its stake in shares of M&T Bank by 3.7% in the third quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock valued at $211,404,000 after acquiring an additional 59,690 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of M&T Bank by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,451,856 shares of the financial services provider’s stock valued at $199,037,000 after acquiring an additional 100,008 shares in the last quarter. Finally, London Co. of Virginia raised its stake in shares of M&T Bank by 23.2% in the third quarter. London Co. of Virginia now owns 1,118,296 shares of the financial services provider’s stock valued at $141,409,000 after acquiring an additional 210,821 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

NYSE MTB opened at $146.82 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $156.65. The business’s 50-day moving average price is $146.70 and its 200 day moving average price is $141.18. The firm has a market cap of $24.50 billion, a P/E ratio of 9.93, a P/E/G ratio of 2.84 and a beta of 0.78.

M&T Bank (NYSE:MTBGet Free Report) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the business earned $4.09 EPS. On average, equities research analysts expect that M&T Bank Co. will post 14.02 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Monday, June 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s payout ratio is currently 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the sale, the executive vice president now directly owns 8,579 shares in the company, valued at approximately $1,319,278.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,553 shares of company stock valued at $14,724,147. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MTB. Piper Sandler increased their price objective on M&T Bank from $152.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. Jefferies Financial Group raised their price target on M&T Bank from $151.00 to $160.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. Wedbush restated an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $159.79.

Check Out Our Latest Research Report on MTB

M&T Bank Company Profile

(Free Report)

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.

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

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