New Hampshire Trust Lowers Stock Position in M&T Bank Co. (NYSE:MTB)

New Hampshire Trust cut its position in shares of M&T Bank Co. (NYSE:MTB) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,912 shares of the financial services provider’s stock after selling 257 shares during the quarter. New Hampshire Trust’s holdings in M&T Bank were worth $1,864,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp boosted its position in M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after purchasing an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in M&T Bank by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after purchasing an additional 190,837 shares during the period. Geode Capital Management LLC increased its position in shares of M&T Bank by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after purchasing an additional 66,337 shares during the last quarter. Finally, Senvest Management LLC raised its stake in shares of M&T Bank by 12.3% during the 3rd quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock worth $157,252,000 after purchasing an additional 96,500 shares during the period. 84.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MTB. Royal Bank of Canada increased their price target 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. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Bank of America upped their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Truist Financial reissued a “buy” rating and issued a $236.00 target price (up from $233.00) on shares of M&T Bank in a research report on Friday. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $221.68.

M&T Bank Stock Up 0.4 %

Shares of NYSE:MTB opened at $196.88 on Tuesday. The firm has a fifty day moving average price of $202.41 and a two-hundred day moving average price of $183.95. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same quarter in the previous year, the business earned $2.74 earnings per share. Analysts anticipate that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.

Insider Buying and Selling at M&T Bank

In other news, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the sale, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. This trade represents a 20.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the transaction, the chief executive officer now owns 77,226 shares of the company’s stock, valued at $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,994 shares of company stock worth $13,331,878 over the last three months. 0.82% of the stock is owned by insiders.

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.