M&T Bank Co. (NYSE:MTB) Position Cut by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,588,469 shares of the financial services provider's stock after selling 7,218 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.16% of M&T Bank worth $491,907,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider's stock worth $612,138,000 after purchasing an additional 650,796 shares in the last quarter. Smead Capital Management Inc. acquired a new position in M&T Bank during the fourth quarter worth about $59,418,000. LSV Asset Management raised its position in M&T Bank by 63.5% in the third quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider's stock worth $140,176,000 after acquiring an additional 430,356 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $218,308,000 after acquiring an additional 393,116 shares during the last quarter. Finally, Senvest Management LLC boosted its position in shares of M&T Bank by 279.6% during the 3rd quarter. Senvest Management LLC now owns 426,700 shares of the financial services provider's stock valued at $53,956,000 after purchasing an additional 314,300 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Down 0.6 %

Shares of MTB traded down $0.93 during mid-day trading on Tuesday, hitting $148.31. 833,517 shares of the company's stock were exchanged, compared to its average volume of 1,150,747. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 1.23 and a beta of 0.78. The firm has a fifty day moving average of $142.27 and a two-hundred day moving average of $135.15. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $150.26.

M&T Bank (NYSE:MTB - Get Free Report) last released 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 period in the prior year, the business earned $4.09 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, March 1st. M&T Bank's dividend payout ratio (DPR) is presently 35.16%.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares of the company's stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now directly owns 6,348 shares of the company's stock, valued at $939,567.48. The disclosure for this sale can be found here. Insiders sold a total of 79,020 shares of company stock worth $11,533,507 over the last quarter. Company insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on M&T Bank from $170.00 to $180.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. DA Davidson reissued a "neutral" rating and issued a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Wedbush reaffirmed an "outperform" rating and set a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. Piper Sandler cut their price target on shares of M&T Bank from $156.00 to $152.00 and set an "overweight" rating on the stock in a report on Friday, January 19th. Finally, Bank of America lifted their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, M&T Bank presently has an average rating of "Hold" and a consensus price target of $158.48.

M&T Bank Company 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.

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