ST Germain D J Co. Inc. Has $2.53 Million Stake in M&T Bank Co. (NYSE:MTB)

ST Germain D J Co. Inc. trimmed its stake in shares of M&T Bank Co. (NYSE:MTB) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,195 shares of the financial services provider’s stock after selling 873 shares during the period. ST Germain D J Co. Inc.’s holdings in M&T Bank were worth $2,528,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MTB. Fisher Asset Management LLC lifted its position in shares of M&T Bank by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 15,878 shares of the financial services provider’s stock worth $2,177,000 after purchasing an additional 439 shares in the last quarter. Quadrature Capital Ltd acquired a new position in M&T Bank in the fourth quarter valued at approximately $788,000. GAMMA Investing LLC lifted its holdings in M&T Bank by 25.0% in the first quarter. GAMMA Investing LLC now owns 1,534 shares of the financial services provider’s stock valued at $223,000 after buying an additional 307 shares during the period. Fulton Bank N.A. lifted its holdings in M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after buying an additional 81 shares during the period. Finally, Czech National Bank lifted its holdings in M&T Bank by 0.8% in the first quarter. Czech National Bank now owns 29,301 shares of the financial services provider’s stock valued at $4,262,000 after buying an additional 235 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MTB. Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday. Barclays increased their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup increased their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $187.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their target price on shares of M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $196.18.

M&T Bank Stock Down 0.7 %

Shares of MTB stock traded down $1.32 during trading hours on Friday, hitting $197.55. 1,632,530 shares of the company were exchanged, compared to its average volume of 1,039,531. The business has a 50 day moving average of $172.93 and a two-hundred day moving average of $158.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $200.94. The company has a market capitalization of $32.96 billion, a PE ratio of 13.36, a PEG ratio of 3.27 and a beta of 0.75.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the prior year, the firm earned $5.12 earnings per share. Analysts anticipate that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were 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 directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,699 shares of company stock valued at $5,115,349. Corporate insiders own 0.82% of the company’s stock.

About M&T Bank

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.