M&T Bank Corporation (NYSE:MTB) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in M&T Bank Corporation by 10.6%, owning 31,900 shares after selling 3,800 shares, which were valued at approximately $5.7 million.
• M&T Bank's recent quarterly earnings showed an EPS of $4.28, surpassing estimates and reflecting a net margin of 20.44% and a revenue of $2.40 billion.
• The bank declared a quarterly dividend of $1.35 per share, resulting in a 2.9% yield, with a payout ratio of 34.97%.

Forsta AP Fonden lowered its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,900 shares of the financial services provider's stock after selling 3,800 shares during the period. Forsta AP Fonden's holdings in M&T Bank were worth $5,702,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MTB. Wood Tarver Financial Group LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth about $29,000. Banque Transatlantique SA purchased a new stake in shares of M&T Bank in the fourth quarter valued at approximately $38,000. Grove Bank & Trust increased its position in shares of M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after buying an additional 114 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of M&T Bank in the first quarter valued at approximately $46,000. Finally, Investors Research Corp increased its position in shares of M&T Bank by 31.1% in the first quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock valued at $53,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the transaction, the director directly owned 4,881 shares in the company, valued at $963,899.88. This trade represents a 20.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director owned 23,070 shares in the company, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,438 shares of company stock valued at $1,967,346. Insiders own 0.53% of the company's stock.

M&T Bank Price Performance

M&T Bank stock traded up $2.17 during trading hours on Wednesday, hitting $193.25. The stock had a trading volume of 1,031,893 shares, compared to its average volume of 1,273,129. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70. The stock has a market capitalization of $30.20 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.91 and a beta of 0.63. The stock's fifty day moving average is $191.07 and its two-hundred day moving average is $183.91.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.04 by $0.24. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. During the same quarter last year, the company earned $3.73 earnings per share. As a group, analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is presently 34.97%.

Wall Street Analysts Forecast Growth

MTB has been the subject of several research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. TD Cowen initiated coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price for the company. Morgan Stanley lifted their price target on M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Wells Fargo & Company boosted their price target on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. Finally, Citigroup boosted their price target on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $212.88.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.