Handelsbanken Fonder AB Sells 1,463 Shares of M&T Bank Co. (NYSE:MTB)

Handelsbanken Fonder AB reduced its stake in M&T Bank Co. (NYSE:MTB - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,701 shares of the financial services provider's stock after selling 1,463 shares during the quarter. Handelsbanken Fonder AB's holdings in M&T Bank were worth $6,382,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MTB. Apollon Wealth Management LLC raised its holdings in M&T Bank by 8.4% in the 4th quarter. Apollon Wealth Management LLC now owns 2,903 shares of the financial services provider's stock worth $546,000 after purchasing an additional 225 shares during the period. Kingsview Wealth Management LLC raised its holdings in M&T Bank by 4.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,860 shares of the financial services provider's stock worth $350,000 after purchasing an additional 75 shares during the period. Empowered Funds LLC raised its holdings in M&T Bank by 9.6% in the 4th quarter. Empowered Funds LLC now owns 3,034 shares of the financial services provider's stock worth $570,000 after purchasing an additional 267 shares during the period. Kestra Private Wealth Services LLC raised its holdings in M&T Bank by 73.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 2,454 shares of the financial services provider's stock worth $461,000 after purchasing an additional 1,039 shares during the period. Finally, Summit Trail Advisors LLC bought a new position in M&T Bank in the 4th quarter worth $290,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Down 3.3%

MTB traded down $6.14 on Friday, hitting $177.85. The company had a trading volume of 1,301,595 shares, compared to its average volume of 1,166,523. The company has a market cap of $28.55 billion, a PE ratio of 12.16, a PEG ratio of 1.38 and a beta of 0.62. M&T Bank Co. has a 12-month low of $141.14 and a 12-month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $174.73 and its 200 day simple moving average is $185.32.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the business posted $3.09 EPS. Equities research analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 3.04%. M&T Bank's dividend payout ratio is currently 36.17%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MTB. Piper Sandler cut their price target on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Cowen began coverage on M&T Bank in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. TD Cowen began coverage on M&T Bank in a research note on Thursday, May 15th. They issued a "buy" rating and a $230.00 price target for the company. Evercore ISI cut their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Finally, Morgan Stanley cut their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.53.

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.