First National Trust Co Sells 56 Shares of M&T Bank Co. (NYSE:MTB)

First National Trust Co reduced its position in M&T Bank Co. (NYSE:MTB) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,491 shares of the financial services provider’s stock after selling 56 shares during the quarter. First National Trust Co’s holdings in M&T Bank were worth $2,047,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of M&T Bank during the 3rd quarter worth about $32,000. Hexagon Capital Partners LLC lifted its stake in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the period. Oakworth Capital Inc. bought a new position in M&T Bank during the second quarter worth about $35,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Trading Down 0.6 %

Shares of NYSE MTB opened at $213.27 on Wednesday. The company’s 50 day simple moving average is $183.56 and its 200 day simple moving average is $165.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 1.00. M&T Bank Co. has a fifty-two week low of $116.07 and a fifty-two week high of $216.84. The firm has a market capitalization of $35.39 billion, a P/E ratio of 15.79, a P/E/G ratio of 2.97 and a beta of 0.74.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, analysts predict that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.53%. M&T Bank’s dividend payout ratio is 39.97%.

Analyst Ratings Changes

Several analysts recently commented on MTB shares. DA Davidson boosted their price target on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Citigroup increased their target price on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Piper Sandler boosted their price target on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Royal Bank of Canada raised their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Bank of America boosted their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $198.76.

Insider Buying and Selling

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the sale, the insider now directly owns 40,502 shares in the company, valued at approximately $7,933,531.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the sale, the insider now directly owns 40,502 shares in the company, valued at approximately $7,933,531.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,088 shares of company stock valued at $12,613,397 in the last 90 days. 0.82% of the stock is owned by insiders.

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.