Toronto Dominion Bank Sells 26,883 Shares of M&T Bank Co. (NYSE:MTB)

Toronto Dominion Bank decreased its position in M&T Bank Co. (NYSE:MTB - Free Report) by 32.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,136 shares of the financial services provider's stock after selling 26,883 shares during the quarter. Toronto Dominion Bank's holdings in M&T Bank were worth $10,554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MTB. Flagship Harbor Advisors LLC lifted its holdings in shares of M&T Bank by 89.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock worth $515,000 after buying an additional 1,295 shares during the last quarter. US Bancorp DE grew its position in M&T Bank by 24.3% during the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock worth $1,576,000 after buying an additional 1,639 shares in the last quarter. Summit Trail Advisors LLC bought a new position in M&T Bank during the fourth quarter valued at about $290,000. Valeo Financial Advisors LLC acquired a new position in M&T Bank in the 4th quarter valued at approximately $297,000. Finally, Van ECK Associates Corp increased its position in shares of M&T Bank by 1,262.9% during the fourth quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock valued at $4,169,000 after purchasing an additional 20,548 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Trading Down 0.2%

MTB traded down $0.43 during trading on Friday, hitting $182.53. The company's stock had a trading volume of 1,944,983 shares, compared to its average volume of 1,154,606. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70. The stock's fifty day moving average price is $172.38 and its 200-day moving average price is $187.91. The firm has a market capitalization of $29.30 billion, a P/E ratio of 12.48, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $3.09 EPS. Analysts anticipate that M&T Bank Co. will post 16.57 EPS 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. Stockholders of record on Monday, June 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. M&T Bank's dividend payout ratio is presently 36.17%.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MTB shares. Wells Fargo & Company reduced their price target on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 15th. TD Cowen began coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price target for the company. Robert W. Baird lowered their target price on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Evercore ISI cut their price target on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, Truist Financial reduced their target price 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently 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.