LRI Investments LLC Sells 80 Shares of M&T Bank Co. (NYSE:MTB)

LRI Investments LLC trimmed its position in M&T Bank Co. (NYSE:MTB) by 0.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,780 shares of the financial services provider’s stock after selling 80 shares during the period. LRI Investments LLC’s holdings in M&T Bank were worth $2,633,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its stake in shares of M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after purchasing an additional 1,508,846 shares in the last quarter. State Street Corp raised its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after buying an additional 190,837 shares during the period. Massachusetts Financial Services Co. MA grew its holdings 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 last quarter. Finally, Dimensional Fund Advisors LP increased its position in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Down 0.5 %

MTB stock opened at $211.26 on Monday. The company has a market capitalization of $35.05 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $200.25 and its two-hundred day moving average price is $174.21. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. As a group, analysts forecast that M&T Bank Co. will post 14.63 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.56%. M&T Bank’s dividend payout ratio is currently 39.97%.

Insider Buying and Selling

In other news, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock worth $17,211,278 in the last 90 days. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. Royal Bank of Canada increased their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Barclays boosted their price target on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $209.32.

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.