Sanibel Captiva Trust Company Inc. Decreases Stake in M&T Bank Co. (NYSE:MTB)

Sanibel Captiva Trust Company Inc. decreased its holdings in M&T Bank Co. (NYSE:MTB) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,957 shares of the financial services provider’s stock after selling 2,072 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in M&T Bank were worth $6,572,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Folger Nolan Fleming Douglas Capital Management Inc. grew its holdings in shares of M&T Bank by 1.6% in the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 12,400 shares of the financial services provider’s stock valued at $2,331,000 after purchasing an additional 200 shares during the period. O Keefe Stevens Advisory Inc. increased its holdings in shares of M&T Bank by 1.7% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 43,653 shares of the financial services provider’s stock worth $8,207,000 after buying an additional 740 shares during the last quarter. Merit Financial Group LLC raised its position in shares of M&T Bank by 46.0% during the 4th quarter. Merit Financial Group LLC now owns 1,889 shares of the financial services provider’s stock valued at $355,000 after buying an additional 595 shares during the period. Avanza Fonder AB acquired a new position in M&T Bank in the fourth quarter valued at approximately $2,590,000. Finally, Salvus Wealth Management LLC grew its position in M&T Bank by 15.6% in the fourth quarter. Salvus Wealth Management LLC now owns 1,528 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 206 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wolfe Research raised 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. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and upped their target price for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Compass Point increased their price objective 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. Finally, Wells Fargo & Company boosted their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Up 0.4 %

Shares of NYSE:MTB opened at $196.88 on Friday. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The firm’s 50 day moving average price is $202.66 and its 200 day moving average price is $183.16. 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 stock has a market cap of $32.67 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period in the prior year, the firm posted $2.74 EPS. As a group, equities research analysts predict that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

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 $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio is presently 39.97%.

Insiders Place Their Bets

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 5,141 shares in the company, valued at $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. Insiders sold 84,994 shares of company stock valued at $17,211,278 in the last ninety days. 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.