Boston Trust Walden Corp Has $8.69 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Boston Trust Walden Corp lowered its position in M&T Bank Co. (NYSE:MTB) by 16.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,759 shares of the financial services provider’s stock after selling 9,621 shares during the period. Boston Trust Walden Corp’s holdings in M&T Bank were worth $8,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank during the first quarter worth about $30,000. Hexagon Capital Partners LLC lifted its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Oakworth Capital Inc. bought a new position in M&T Bank in the second quarter valued at approximately $35,000. nVerses Capital LLC acquired a new position in shares of M&T Bank in the third quarter valued at approximately $53,000. Finally, Versant Capital Management Inc increased its position in shares of M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 201 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Trading Down 1.0 %

M&T Bank stock opened at $192.57 on Friday. The stock has a 50-day simple moving average of $176.21 and a 200 day simple moving average of $160.68. The stock has a market capitalization of $32.13 billion, a P/E ratio of 14.25, a PEG ratio of 2.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $200.94.

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 issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is presently 39.97%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The trade was 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 available at this hyperlink. In other M&T Bank news, EVP Michael J. Todaro sold 4,791 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.57, for a total transaction of $778,872.87. Following the completion of the sale, the executive vice president now directly owns 3,086 shares in the company, valued at $501,691.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,735 shares of company stock valued at $7,437,757 in the last quarter. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of research analyst reports. Barclays upped their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Royal Bank of Canada upped their price objective on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. DA Davidson lifted their target price on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Bank of America boosted their target price 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. Finally, Morgan Stanley raised their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $197.47.

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.