Robeco Institutional Asset Management B.V. Sells 2,663 Shares of M&T Bank Corporation (NYSE:MTB)

Robeco Institutional Asset Management B.V. decreased its stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 18.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,550 shares of the financial services provider's stock after selling 2,663 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in M&T Bank were worth $2,065,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in shares of M&T Bank in the 4th quarter worth $29,000. Banque Transatlantique SA purchased a new position in shares of M&T Bank during the 4th quarter worth $38,000. Grove Bank & Trust grew its holdings 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 valued at $40,000 after purchasing an additional 114 shares during the period. Golden State Wealth Management LLC purchased a new stake in M&T Bank in the first quarter worth about $46,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of M&T Bank in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Trading Up 1.3%

NYSE:MTB traded up $2.52 during midday trading on Friday, hitting $202.58. 838,320 shares of the company traded hands, compared to its average volume of 1,188,657. The firm has a market capitalization of $32.52 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.45 and a beta of 0.63. The firm's fifty day moving average is $182.73 and its 200-day moving average is $183.61. M&T Bank Corporation has a 12-month low of $145.82 and a 12-month high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $3.09 EPS. On average, sell-side analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.67%. M&T Bank's dividend payout ratio is 36.17%.

Insider Buying and Selling at M&T Bank

In related 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 stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the sale, the director directly owned 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MTB shares. Piper Sandler lowered their price target on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Truist Financial cut their price target on M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Evercore ISI lowered their price objective on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a report on Monday, May 19th. Finally, Barclays lowered their target price on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.48.

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.