PARK CIRCLE Co Has $597,000 Stock Holdings in M&T Bank Corporation (NYSE:MTB)

Key Points

• PARK CIRCLE Co has reduced its holdings in M&T Bank Corporation by 63.8%, now owning 3,341 shares valued at $597,000 after selling 5,900 shares in the first quarter.
• Analysts have upgraded M&T Bank's stock rating, with Wall Street Zen changing it from "sell" to "hold," and Royal Bank of Canada maintaining an "outperform" rating with a target price of $200.00.
• M&T Bank has announced a quarterly dividend of $1.35 per share, yielding 2.9% annually, with a payout ratio of 34.97%.

PARK CIRCLE Co trimmed its holdings in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 63.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,341 shares of the financial services provider's stock after selling 5,900 shares during the quarter. PARK CIRCLE Co's holdings in M&T Bank were worth $597,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MTB. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at $29,000. Banque Transatlantique SA acquired a new position in shares of M&T Bank in the 4th quarter valued at about $38,000. Grove Bank & Trust grew its stake in M&T Bank by 104.6% during the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock worth $40,000 after purchasing an additional 114 shares during the period. Golden State Wealth Management LLC bought a new stake in M&T Bank in the first quarter worth approximately $46,000. Finally, Investors Research Corp lifted its position in shares of M&T Bank by 31.1% during the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 70 shares during the period. Institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTB. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a research note on Monday, May 19th. TD Cowen initiated coverage on M&T Bank in a research note on Thursday, May 15th. They set a "buy" rating and a $230.00 price target on the stock. Cowen started coverage on M&T Bank in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Truist Financial decreased their price objective on M&T Bank from $225.00 to $200.00 and set a "buy" 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 stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.88.

M&T Bank Trading Down 1.2%

Shares of M&T Bank stock opened at $185.79 on Thursday. The stock has a fifty day moving average price of $190.66 and a 200-day moving average price of $184.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $29.82 billion, a PE ratio of 12.03, a P/E/G ratio of 0.92 and a beta of 0.63. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter in the previous year, the firm posted $3.73 earnings per share. Equities research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's dividend payout ratio is 34.97%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the sale, the director directly owned 4,881 shares of the company's stock, valued at $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director directly owned 23,070 shares in the company, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,438 shares of company stock valued at $1,967,346. Company insiders own 0.53% of the company's stock.

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.

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