Mn Services Vermogensbeheer B.V. Cuts Stake in M&T Bank Co. (NYSE:MTB)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 60,000 shares of the financial services provider's stock after selling 4,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in M&T Bank were worth $10,725,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE grew its position in M&T Bank by 24.3% during the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock valued at $1,576,000 after purchasing an additional 1,639 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in M&T Bank during the 4th quarter valued at about $297,000. Van ECK Associates Corp grew its position in M&T Bank by 1,262.9% during the 4th quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock valued at $4,169,000 after purchasing an additional 20,548 shares during the last quarter. Citizens & Northern Corp purchased a new stake in M&T Bank during the 4th quarter valued at about $523,000. Finally, American Century Companies Inc. grew its position in M&T Bank by 0.9% during the 4th quarter. American Century Companies Inc. now owns 67,987 shares of the financial services provider's stock valued at $12,782,000 after purchasing an additional 610 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the sale, the director now owns 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MTB shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a report on Monday, May 19th. Robert W. Baird dropped their price target on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. DA Davidson dropped their price target on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Evercore ISI dropped their price target on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of "Moderate Buy" and an average target price of $212.53.

M&T Bank Stock Performance

MTB opened at $180.21 on Tuesday. M&T Bank Co. has a 12-month low of $141.14 and a 12-month high of $225.70. The company has a market cap of $28.93 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.38 and a beta of 0.62. The company's 50 day moving average is $175.21 and its 200 day moving average is $184.80. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results 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). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business posted $3.09 EPS. On average, equities research analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, June 2nd. M&T Bank's payout ratio is 36.17%.

About M&T Bank

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.

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