M&T Bank Co. (NYSE:MTB) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,463 shares of the financial services provider’s stock after selling 343 shares during the period. Retirement Systems of Alabama’s holdings in M&T Bank were worth $6,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. increased its holdings in shares of M&T Bank by 127.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,648 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 2,047 shares in the last quarter. Fifth Third Bancorp increased its holdings in M&T Bank by 3.4% in the second quarter. Fifth Third Bancorp now owns 9,653 shares of the financial services provider’s stock valued at $1,461,000 after buying an additional 316 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of M&T Bank in the second quarter worth about $242,000. 1620 Investment Advisors Inc. acquired a new position in shares of M&T Bank in the second quarter worth about $121,000. Finally, &PARTNERS purchased a new stake in shares of M&T Bank during the 2nd quarter worth about $429,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now directly owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Compass Point lifted their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Bank of America upped their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Friday, October 4th. Evercore ISI upped their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wedbush lifted their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $215.50.

M&T Bank Stock Down 5.1 %

Shares of NYSE:MTB opened at $186.15 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $204.00 and a two-hundred day moving average of $176.85. The stock has a market cap of $30.89 billion, a P/E ratio of 13.78, a PEG ratio of 2.83 and a beta of 0.76. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, research analysts expect that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.90%. M&T Bank’s dividend payout ratio is currently 39.97%.

M&T Bank Profile

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.