Boston Trust Walden Corp Sells 9,621 Shares of M&T Bank Co. (NYSE:MTB)

Boston Trust Walden Corp cut its holdings in shares of M&T Bank Co. (NYSE:MTB) by 16.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,759 shares of the financial services provider’s stock after selling 9,621 shares during the quarter. Boston Trust Walden Corp’s holdings in M&T Bank were worth $8,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after acquiring an additional 81,004 shares during the period. Dimensional Fund Advisors LP increased its position in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the period. Bank of New York Mellon Corp raised its stake in M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after purchasing an additional 44,442 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in M&T Bank by 3.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after purchasing an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on MTB shares. Wells Fargo & Company upped their price target on shares of M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their target price on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley boosted their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods boosted their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $197.47.

Insider Buying and Selling at M&T Bank

In other news, EVP Michael J. Todaro sold 4,791 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the completion of the transaction, the executive vice president now directly owns 3,086 shares in the company, valued at $501,691.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, EVP Michael J. Todaro sold 4,791 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the completion of the sale, the executive vice president now directly owns 3,086 shares in the company, valued at approximately $501,691.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 directly owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,735 shares of company stock worth $7,437,757. Insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $192.57 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $200.94. The firm has a market cap of $32.13 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. The firm’s fifty day moving average is $176.21 and its 200-day moving average is $160.68.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.80%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is presently 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.