M&T Bank Co. (NYSE:MTB) Position Trimmed by Waycross Partners LLC

Waycross Partners LLC decreased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,000 shares of the financial services provider’s stock after selling 550 shares during the period. Waycross Partners LLC’s holdings in M&T Bank were worth $548,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MTB. HHM Wealth Advisors LLC bought a new position in shares of M&T Bank during the fourth quarter worth about $25,000. Headinvest LLC acquired a new stake in M&T Bank in the third quarter worth about $29,000. BKM Wealth Management LLC acquired a new stake in M&T Bank in the fourth quarter worth about $32,000. Creative Financial Designs Inc. ADV acquired a new stake in M&T Bank in the fourth quarter worth about $33,000. Finally, CVA Family Office LLC acquired a new stake in M&T Bank in the fourth quarter worth about $33,000. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

MTB has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Piper Sandler cut their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Barclays upped their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, Evercore ISI upped their price target on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $158.48.

M&T Bank Stock Down 0.8 %

NYSE:MTB traded down $1.13 during mid-day trading on Tuesday, reaching $144.39. The stock had a trading volume of 545,059 shares, compared to its average volume of 1,175,593. The business’s 50 day moving average is $141.29 and its 200 day moving average is $134.20. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The stock has a market cap of $24.06 billion, a P/E ratio of 9.76, a PEG ratio of 1.22 and a beta of 0.80. 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 (NYSE:MTB) last released its quarterly earnings data 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). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company posted $4.09 EPS. As a group, sell-side analysts predict that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is 35.16%.

Insider Activity

In other news, Director John P. Barnes sold 10,000 shares of M&T Bank stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the transaction, the director now owns 34,545 shares of the company’s stock, valued at $5,081,914.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the sale, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the sale, the director now owns 34,545 shares in the company, valued at approximately $5,081,914.95. The disclosure for this sale can be found here. Insiders have sold a total of 47,119 shares of company stock valued at $6,812,112 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

About M&T Bank

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.