M&T Bank Corporation (NYSE:MTB) Shares Sold by LRI Investments LLC

LRI Investments LLC cut its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 20.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,727 shares of the financial services provider's stock after selling 3,053 shares during the quarter. LRI Investments LLC's holdings in M&T Bank were worth $2,096,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTB. Wood Tarver Financial Group LLC acquired a new position in shares of M&T Bank in the fourth quarter worth $29,000. Banque Transatlantique SA acquired a new position in shares of M&T Bank in the fourth quarter worth $38,000. Grove Bank & Trust raised its holdings 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 worth $40,000 after acquiring an additional 114 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of M&T Bank in the first quarter worth $46,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of M&T Bank in the fourth quarter worth $52,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a research report on Thursday, April 24th. DA Davidson lowered their price objective on M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of M&T Bank in a research report on Monday, May 19th. Finally, Wells Fargo & Company lowered their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research report on Tuesday, April 15th. One equities research 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.48.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director owned 23,070 shares in the company, valued at $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Trading Down 1.2%

MTB stock traded down $2.38 during trading on Friday, reaching $201.67. 1,004,391 shares of the stock traded hands, compared to its average volume of 1,192,629. The business's 50 day moving average price is $186.49 and its 200-day moving average price is $184.07. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $32.37 billion, a PE ratio of 13.51, a P/E/G ratio of 1.46 and a beta of 0.63.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. During the same quarter in the prior year, the firm earned $3.09 EPS. As a group, sell-side analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's dividend payout ratio is presently 36.17%.

M&T Bank Company 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.