Community Bank N.A. Sells 8,000 Shares of M&T Bank Co. (NYSE:MTB)

Community Bank N.A. cut its position in M&T Bank Co. (NYSE:MTB - Free Report) by 78.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,212 shares of the financial services provider's stock after selling 8,000 shares during the period. Community Bank N.A.'s holdings in M&T Bank were worth $303,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MTB. Invesco Ltd. raised its holdings in shares of M&T Bank by 15.5% in the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider's stock valued at $612,138,000 after buying an additional 650,796 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of M&T Bank by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider's stock valued at $454,675,000 after purchasing an additional 41,790 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in M&T Bank by 29.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider's stock worth $218,308,000 after purchasing an additional 393,116 shares during the last quarter. Northern Trust Corp raised its position in M&T Bank by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider's stock worth $211,404,000 after purchasing an additional 59,690 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in M&T Bank by 20.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider's stock worth $204,047,000 after buying an additional 270,819 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Insider Activity

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares of the company's stock, valued at $962,350.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company's stock, valued at $923,215. The disclosure for this sale can be found here. Insiders sold 37,119 shares of company stock worth $5,341,012 in the last quarter. Corporate insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MTB. Wedbush reissued an "outperform" rating and issued a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. Barclays upped their target price on shares of M&T Bank from $150.00 to $170.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 16th. Morgan Stanley increased their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. Finally, Jefferies Financial Group lowered their target price on shares of M&T Bank from $154.00 to $151.00 and set a "hold" rating for the company in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $158.48.

M&T Bank Stock Down 0.7 %

MTB traded down $1.06 during trading on Thursday, reaching $146.90. The company had a trading volume of 919,269 shares, compared to its average volume of 1,195,423. The business's fifty day moving average price is $140.84 and its 200 day moving average price is $133.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $148.25. The company has a market cap of $24.48 billion, a P/E ratio of 9.93, a PEG ratio of 1.23 and a beta of 0.80.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts' consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter last year, the firm earned $4.09 earnings per share. Equities analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.54%. M&T Bank's dividend payout ratio is 35.16%.

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.