M&T Bank Co. (NYSE:MTB) Shares Sold by Bangor Savings Bank

Bangor Savings Bank lessened its holdings in M&T Bank Co. (NYSE:MTB) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,246 shares of the financial services provider’s stock after selling 420 shares during the period. Bangor Savings Bank’s holdings in M&T Bank were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd lifted its stake in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in M&T Bank during the 3rd quarter worth approximately $32,000. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Trading Up 0.8 %

NYSE MTB opened at $193.02 on Tuesday. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. The stock has a market capitalization of $32.03 billion, a P/E ratio of 14.29, a PEG ratio of 2.83 and a beta of 0.79. The firm’s 50-day moving average is $203.53 and its two-hundred day moving average is $181.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.30 billion. On average, sell-side analysts anticipate that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MTB shares. Barclays raised their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday. Compass Point boosted their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada upped their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Bank of America raised their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average price target of $216.86.

Insider Buying and Selling

In other news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the transaction, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the transaction, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,994 shares of company stock valued at $17,211,278 in the last ninety days. Company insiders own 0.82% of the company’s stock.

M&T Bank Company 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.