M&T Bank Corporation (NYSE:MTB) Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 6.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 61,241 shares of the financial services provider's stock after selling 4,096 shares during the quarter. TD Asset Management Inc's holdings in M&T Bank were worth $10,947,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MTB. FMR LLC lifted its stake in M&T Bank by 14.3% in the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after purchasing an additional 1,761,014 shares during the last quarter. Geode Capital Management LLC increased its stake in M&T Bank by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after purchasing an additional 40,948 shares during the period. Northern Trust Corp lifted its position in shares of M&T Bank by 14.7% during the fourth quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock worth $316,483,000 after purchasing an additional 215,100 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of M&T Bank by 2.1% during the fourth quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock valued at $301,892,000 after purchasing an additional 33,017 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in M&T Bank by 22.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock valued at $294,662,000 after buying an additional 286,049 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

Insider Buying and Selling at M&T Bank

In other news, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the sale, the executive vice president owned 9,319 shares of the company's stock, valued at $1,838,731.89. The trade was a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,438 shares of company stock valued at $1,967,346. Corporate insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. DA Davidson lifted their price target on shares of M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. dropped their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. 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 report on Tuesday, April 15th. Morgan Stanley upped their target price on M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, Piper Sandler reduced their price target on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $212.88.

M&T Bank Stock Performance

NYSE MTB traded down $3.85 on Friday, hitting $184.85. 1,282,103 shares of the company's stock traded hands, compared to its average volume of 1,083,864. The firm's 50-day moving average price is $190.23 and its two-hundred day moving average price is $184.58. The firm has a market capitalization of $29.67 billion, a PE ratio of 11.97, a P/E/G ratio of 0.93 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. 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 posted its earnings results 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. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company earned $3.73 earnings per share. As a group, analysts expect that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

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 $1.35 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.9%. M&T Bank's payout ratio is presently 34.97%.

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.