M&T Bank Co. (NYSE:MTB) Stock Position Reduced by US Asset Management LLC

US Asset Management LLC trimmed its position in M&T Bank Co. (NYSE:MTB) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,307 shares of the financial services provider’s stock after selling 105 shares during the quarter. US Asset Management LLC’s holdings in M&T Bank were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MTB. Principal Securities Inc. acquired a new stake in M&T Bank in the fourth quarter worth about $34,000. Jump Financial LLC acquired a new stake in shares of M&T Bank in the 4th quarter worth approximately $203,000. QRG Capital Management Inc. acquired a new position in shares of M&T Bank during the fourth quarter valued at approximately $232,000. Principal Financial Group Inc. increased its position in shares of M&T Bank by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 196,358 shares of the financial services provider’s stock valued at $26,917,000 after purchasing an additional 2,887 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in shares of M&T Bank by 3.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,308 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 127 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MTB shares. Royal Bank of Canada upped 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. Jefferies Financial Group increased their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and raised their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Finally, Bank of America upped their target price on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average target price of $175.85.

Insiders Place Their Bets

In other news, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the 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 in the company, valued at $5,476,225.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The shares were 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 directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

NYSE:MTB opened at $168.88 on Friday. The firm’s 50-day moving average is $165.07 and its 200-day moving average is $152.14. The company has a market cap of $28.18 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 3.32 and a beta of 0.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. 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 issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company posted $5.12 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

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.