Sanibel Captiva Trust Company Inc. Trims Stock Holdings in M&T Bank Co. (NYSE:MTB)

Sanibel Captiva Trust Company Inc. decreased its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,327 shares of the financial services provider's stock after selling 1,630 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in M&T Bank were worth $5,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC boosted its holdings in M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock worth $3,195,000 after buying an additional 52 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock valued at $183,000 after acquiring an additional 53 shares during the period. Marcum Wealth LLC boosted its stake in M&T Bank by 4.9% during the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after acquiring an additional 57 shares during the last quarter. Parallel Advisors LLC grew its holdings in M&T Bank by 1.7% during the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock valued at $660,000 after purchasing an additional 60 shares during the period. Finally, Forum Financial Management LP grew its holdings in M&T Bank by 2.2% during the fourth quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after purchasing an additional 62 shares during the period. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Down 3.3%

Shares of NYSE:MTB traded down $6.14 during midday trading on Friday, reaching $177.85. The company's stock had a trading volume of 1,301,595 shares, compared to its average volume of 1,164,222. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $174.73 and a 200-day moving average of $185.57. The firm has a market capitalization of $28.55 billion, a P/E ratio of 12.16, a PEG ratio of 1.38 and a beta of 0.62. M&T Bank Co. has a 12-month low of $141.00 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the firm earned $3.09 earnings per share. On average, research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 3.04%. M&T Bank's payout ratio is 36.17%.

Analysts Set New Price Targets

MTB has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Truist Financial decreased their price target on shares of 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. Barclays cut their price objective on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 15th. Finally, DA Davidson lowered 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 research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, M&T Bank presently has an average rating of "Moderate Buy" and a consensus price target of $212.53.

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.