Mountain Pacific Investment Advisers LLC Sells 200 Shares of M&T Bank Co. (NYSE:MTB)

Mountain Pacific Investment Advisers LLC trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,695 shares of the financial services provider’s stock after selling 200 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in M&T Bank were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MTB. Plato Investment Management Ltd grew its position in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank in the third quarter worth $32,000. Hexagon Capital Partners LLC grew its holdings in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased 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 valued at $37,000 after buying an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of M&T Bank in the third quarter valued at about $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Friday, October 4th. Keefe, Bruyette & Woods increased their price objective on 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 boosted their target price on 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 raised their price target on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average target price of $221.68.

Insider Activity

In other news, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the sale, the executive vice president now directly owns 5,618 shares in the company, valued at $1,095,678.54. The trade was a 20.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,994 shares of company stock worth $13,331,878 over the last quarter. 0.82% of the stock is currently owned by company insiders.

M&T Bank Price Performance

MTB opened at $196.88 on Tuesday. The stock has a market cap of $32.67 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.16 and a beta of 0.79. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. 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 company has a fifty day simple moving average of $202.41 and a 200 day simple moving average of $183.95.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same period in the prior year, the company earned $2.74 earnings per share. On average, research analysts expect that M&T Bank Co. will post 14.58 EPS for the current year.

M&T Bank Dividend Announcement

The business 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 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.