Waycross Partners LLC Has $548,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Waycross Partners LLC reduced its stake in shares of M&T Bank Co. (NYSE:MTB) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,000 shares of the financial services provider’s stock after selling 550 shares during the quarter. Waycross Partners LLC’s holdings in M&T Bank were worth $548,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MTB. HHM Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth $25,000. Headinvest LLC acquired a new stake in shares of M&T Bank during the 3rd quarter worth $29,000. BKM Wealth Management LLC acquired a new stake in M&T Bank in the fourth quarter valued at about $32,000. Creative Financial Designs Inc. ADV acquired a new stake in M&T Bank in the fourth quarter valued at about $33,000. Finally, CVA Family Office LLC acquired a new stake in M&T Bank in the fourth quarter valued at about $33,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on MTB. JPMorgan Chase & Co. raised their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Evercore ISI raised their price objective on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Barclays increased their target price on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Piper Sandler dropped their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $158.48.

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. Insiders have sold a total of 47,119 shares of company stock valued at $6,812,112 over the last 90 days. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 0.8 %

M&T Bank stock traded down $1.13 during mid-day trading on Tuesday, reaching $144.39. The stock had a trading volume of 545,059 shares, compared to its average volume of 1,175,593. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The stock’s 50-day simple moving average is $141.29 and its 200-day simple moving average is $134.20. The firm has a market capitalization of $24.06 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the firm earned $4.09 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.60%. M&T Bank’s payout ratio is 35.16%.

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.