Epoch Investment Partners Inc. Sells 2,295 Shares of M&T Bank Co. (NYSE:MTB)

Epoch Investment Partners Inc. reduced its holdings in M&T Bank Co. (NYSE:MTB) by 56.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,779 shares of the financial services provider’s stock after selling 2,295 shares during the quarter. Epoch Investment Partners Inc.’s holdings in M&T Bank were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MTB. HHM Wealth Advisors LLC bought a new position in shares of M&T Bank during the 4th quarter valued at about $25,000. General Partner Inc. bought a new position in shares of M&T Bank during the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank during the 1st quarter valued at about $30,000. Planned Solutions Inc. bought a new position in shares of M&T Bank during the 4th quarter valued at about $33,000. Finally, Principal Securities Inc. bought a new position in shares of M&T Bank during the 4th quarter valued at about $34,000. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The disclosure for this sale can be found here. Insiders sold a total of 87,415 shares of company stock worth $13,285,139 in the last quarter. 0.82% of the stock is owned by company insiders.

M&T Bank Trading Up 0.8 %

NYSE MTB traded up $1.39 on Friday, hitting $174.90. The company’s stock had a trading volume of 980,508 shares, compared to its average volume of 1,049,592. The firm has a market cap of $29.18 billion, a P/E ratio of 11.83, a PEG ratio of 3.52 and a beta of 0.77. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company’s 50-day simple moving average is $152.34 and its 200 day simple moving average is $145.01. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $176.44.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter last year, the business posted $5.12 EPS. Research analysts predict that M&T Bank Co. will post 14.18 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Monday, June 3rd. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Analyst Upgrades and Downgrades

MTB has been the topic of several recent research reports. Evercore ISI increased their price objective on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Jefferies Financial Group increased their target price on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Royal Bank of Canada increased their target price on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods increased their target price on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus price target of $170.35.

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.