Jackson Square Capital LLC Trims Stock Holdings in M&T Bank Co. (NYSE:MTB)

Jackson Square Capital LLC cut its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 71.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,344 shares of the financial services provider's stock after selling 3,418 shares during the period. Jackson Square Capital LLC's holdings in M&T Bank were worth $240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new position in shares of M&T Bank during the 4th quarter worth approximately $29,000. Banque Transatlantique SA purchased a new position in M&T Bank during the fourth quarter worth $38,000. Sierra Ocean LLC purchased a new position in M&T Bank during the fourth quarter worth $44,000. Human Investing LLC acquired a new position in shares of M&T Bank in the fourth quarter worth $44,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of M&T Bank in the fourth quarter valued at $52,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction 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 transaction, the director now directly owns 23,070 shares of the company's stock, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

M&T Bank Trading Up 1.2%

NYSE MTB traded up $2.18 during mid-day trading on Monday, hitting $180.21. The company's stock had a trading volume of 992,108 shares, compared to its average volume of 1,165,824. The firm has a market capitalization of $28.93 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a 52-week low of $141.14 and a 52-week high of $225.70. The stock's fifty day simple moving average is $175.21 and its two-hundred day simple moving average is $184.80.

M&T Bank (NYSE:MTB - Get Free Report) last issued 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). The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the business posted $3.09 EPS. Research analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.00%. The ex-dividend date is Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. DA Davidson dropped 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. Citigroup lowered their price target on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. TD Cowen assumed coverage on shares of M&T Bank in a research note on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price for the company. Finally, Robert W. Baird cut their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, M&T Bank presently has a consensus rating of "Moderate Buy" and an average target price of $212.53.

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.