M&T Bank Corporation (NYSE:MTB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in M&T Bank Corporation (NYSE:MTB - Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 177,789 shares of the financial services provider's stock after selling 4,214 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of M&T Bank worth $31,780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wood Tarver Financial Group LLC purchased a new stake in M&T Bank during the 4th quarter valued at about $29,000. Banque Transatlantique SA purchased a new stake in M&T Bank in the fourth quarter worth $38,000. Grove Bank & Trust increased its position in shares of 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 buying 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 purchased a new position in shares of M&T Bank during the 4th quarter worth approximately $52,000. Institutional investors own 84.68% of the company's stock.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction on Thursday, June 12th. The stock was 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 represents a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director owned 4,881 shares in the company, valued at $963,899.88. The trade was a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

M&T Bank Stock Up 0.1%

M&T Bank stock traded up $0.15 during mid-day trading on Thursday, hitting $195.96. The company had a trading volume of 195,422 shares, compared to its average volume of 1,305,994. The stock has a market cap of $31.46 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.97 and a beta of 0.63. The company has a quick ratio of 0.97, a current ratio of 0.91 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. The business has a fifty day moving average of $189.27 and a 200 day moving average of $184.51.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.04 by $0.24. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. During the same quarter last year, the business posted $3.73 EPS. On average, sell-side analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is presently 34.97%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Cowen initiated coverage on shares of M&T Bank in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their target price on shares of M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Wall Street Zen raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Citigroup upped their price target on M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has an average rating of "Moderate Buy" and a consensus price target of $212.88.

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.