M&T Bank Co. (NYSE:MTB) Shares Sold by Conning Inc.

Conning Inc. reduced its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,345 shares of the financial services provider's stock after selling 32,311 shares during the quarter. Conning Inc. owned 0.14% of M&T Bank worth $31,644,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Clear Street Markets LLC acquired a new stake in M&T Bank in the fourth quarter valued at approximately $25,000. Stonebridge Capital Advisors LLC grew its holdings in M&T Bank by 1,980.0% in the second quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 198 shares during the period. RVW Wealth LLC acquired a new stake in M&T Bank in the third quarter valued at approximately $27,000. Quarry LP acquired a new stake in M&T Bank in the first quarter valued at approximately $27,000. Finally, Sunbelt Securities Inc. acquired a new stake in M&T Bank in the first quarter valued at approximately $27,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Trading Down 0.5 %

NYSE:MTB traded down $0.62 on Friday, reaching $134.56. The company's stock had a trading volume of 1,432,527 shares, compared to its average volume of 1,078,360. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm has a market cap of $22.42 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The stock has a 50 day moving average price of $139.18 and a 200 day moving average price of $132.55.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing analysts' consensus estimates of $3.10 by ($0.36). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The business had revenue of $3.32 billion during the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $4.57 EPS. On average, equities analysts anticipate that M&T Bank Co. will post 13.89 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.86%. M&T Bank's dividend payout ratio is currently 32.95%.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Doris P. Meister sold 3,961 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now owns 5,000 shares in the company, valued at approximately $718,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the company's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock worth $5,114,624 over the last quarter. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler lowered their price target on M&T Bank from $156.00 to $152.00 and set an "overweight" rating on the stock in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft lowered M&T Bank from a "buy" rating to a "hold" rating and set a $145.00 price target on the stock. in a research note on Monday, December 18th. DA Davidson reaffirmed a "neutral" rating and issued a $159.00 price target on shares of M&T Bank in a research note on Wednesday, March 6th. Morgan Stanley lifted their price target on M&T Bank from $160.00 to $179.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 7th. Finally, StockNews.com lowered M&T Bank from a "hold" rating to a "sell" rating in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $155.21.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.