M&T Bank Co. (NYSE:MTB) Shares Sold by First National Trust Co

First National Trust Co trimmed its holdings in shares of M&T Bank Co. (NYSE:MTB) by 8.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,162 shares of the financial services provider’s stock after selling 1,144 shares during the quarter. First National Trust Co’s holdings in M&T Bank were worth $1,804,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MTB. Commonwealth Equity Services LLC lifted its holdings in shares of M&T Bank by 1.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 85,000 shares of the financial services provider’s stock valued at $10,748,000 after acquiring an additional 1,583 shares in the last quarter. Xponance Inc. raised its position in M&T Bank by 2.7% in the third quarter. Xponance Inc. now owns 21,794 shares of the financial services provider’s stock valued at $2,756,000 after purchasing an additional 581 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of M&T Bank by 7.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 37,521 shares of the financial services provider’s stock worth $4,744,000 after purchasing an additional 2,726 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of M&T Bank by 20.2% in the third quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider’s stock worth $204,047,000 after buying an additional 270,819 shares during the period. Finally, Brown Advisory Inc. grew its stake in shares of M&T Bank by 5.9% in the third quarter. Brown Advisory Inc. now owns 36,735 shares of the financial services provider’s stock valued at $4,645,000 after buying an additional 2,059 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

Shares of NYSE MTB traded up $0.31 during trading hours on Friday, reaching $146.58. The stock had a trading volume of 531,891 shares, compared to its average volume of 1,021,836. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The business’s fifty day moving average is $141.64 and its two-hundred day moving average is $134.37. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.22 and a beta of 0.78.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the business posted $4.09 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.55%. M&T Bank’s dividend payout ratio is presently 35.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MTB shares. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. UBS Group increased their target price on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. DA Davidson reiterated a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. Finally, Bank of America boosted their target price on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $158.48.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total value of $1,471,100.00. Following the transaction, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the sale, the director now owns 34,545 shares of the company’s stock, valued at $5,081,914.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,119 shares of company stock valued at $6,679,812. 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.