M&T Bank Corporation $MTB Holdings Decreased by Evergreen Capital Management LLC

Evergreen Capital Management LLC lessened its stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 26.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,725 shares of the financial services provider's stock after selling 18,206 shares during the period. Evergreen Capital Management LLC's holdings in M&T Bank were worth $11,255,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Wedmont Private Capital grew its position in shares of M&T Bank by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 4,405 shares of the financial services provider's stock valued at $1,067,000 after acquiring an additional 45 shares during the period. CX Institutional increased its stake in shares of M&T Bank by 3.4% during the 2nd quarter. CX Institutional now owns 1,650 shares of the financial services provider's stock worth $393,000 after purchasing an additional 54 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in shares of M&T Bank by 5.4% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,196 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 61 shares during the period. Hudock Inc. raised its holdings in shares of M&T Bank by 0.4% in the 3rd quarter. Hudock Inc. now owns 13,891 shares of the financial services provider's stock valued at $3,023,000 after purchasing an additional 62 shares during the period. Finally, Taylor Securities Services Inc. raised its holdings in shares of M&T Bank by 1.7% in the 3rd quarter. Taylor Securities Services Inc. now owns 4,200 shares of the financial services provider's stock valued at $914,000 after purchasing an additional 70 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Rudina Seseri sold 623 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the sale, the director directly owned 3,649 shares in the company, valued at $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO René Jones sold 19,396 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the sale, the chief executive officer directly owned 103,831 shares of the company's stock, valued at $24,851,949.85. This represents a 15.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 20,028 shares of company stock worth $4,794,884. 0.44% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $242.00 to $250.00 and gave the stock a "market perform" rating in a report on Thursday, July 16th. Wells Fargo & Company lifted their target price on shares of M&T Bank from $215.00 to $224.00 and gave the stock an "underweight" rating in a report on Thursday, July 16th. Royal Bank Of Canada decreased their price target on shares of M&T Bank from $255.00 to $245.00 and set an "outperform" rating on the stock in a research note on Monday, October 19th. Finally, Cantor Fitzgerald lowered their price target on shares of M&T Bank from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $247.12.

M&T Bank Stock Performance

NYSE:MTB opened at $221.68 on Friday. M&T Bank Corporation has a twelve month low of $179.32 and a twelve month high of $255.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.54. The stock's 50-day simple moving average is $228.61 and its 200 day simple moving average is $228.93. The firm has a market capitalization of $32.02 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.28 and a beta of 0.61.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Friday, October 16th. The financial services provider reported $5.08 EPS for the quarter, beating analysts' consensus estimates of $4.93 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analysts' expectations of $2.53 billion. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. During the same period in the prior year, the company earned $4.82 EPS. On average, analysts anticipate that M&T Bank Corporation will post 19.48 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, September 1st. M&T Bank's payout ratio is currently 31.32%.

M&T Bank Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company's offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.

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