First National Trust Co Sells 1,144 Shares of M&T Bank Co. (NYSE:MTB)

First National Trust Co reduced its position in shares of M&T Bank Co. (NYSE:MTB) by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,162 shares of the financial services provider’s stock after selling 1,144 shares during the quarter. First National Trust Co’s holdings in M&T Bank were worth $1,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Commonwealth Equity Services LLC increased its holdings in shares of M&T Bank by 1.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 85,000 shares of the financial services provider’s stock worth $10,748,000 after buying an additional 1,583 shares during the last quarter. Xponance Inc. increased its stake in M&T Bank by 2.7% during the third quarter. Xponance Inc. now owns 21,794 shares of the financial services provider’s stock worth $2,756,000 after acquiring an additional 581 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in M&T Bank by 7.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 37,521 shares of the financial services provider’s stock valued at $4,744,000 after purchasing an additional 2,726 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of M&T Bank by 20.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider’s stock valued at $204,047,000 after purchasing an additional 270,819 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of M&T Bank by 5.9% in the 3rd quarter. Brown Advisory Inc. now owns 36,735 shares of the financial services provider’s stock worth $4,645,000 after purchasing an additional 2,059 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Up 0.2 %

Shares of NYSE:MTB traded up $0.31 during trading hours on Friday, hitting $146.58. The company’s stock had a trading volume of 531,891 shares, compared to its average volume of 1,021,836. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The firm’s fifty day moving average price is $141.64 and its 200 day moving average price is $134.37. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.93. The company has a market capitalization of $24.42 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 1.22 and a beta of 0.78.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share 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 company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the company earned $4.09 EPS. As a group, research analysts expect that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.55%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI raised their price target on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Jefferies Financial Group decreased their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $158.48.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 10,000 shares of the company’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 transaction, the director now directly owns 34,545 shares of the company’s stock, valued at $5,081,914.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director John P. Barnes sold 10,000 shares of the stock in a transaction 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 sale, the director now owns 34,545 shares in the company, valued at $5,081,914.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Insiders sold 46,119 shares of company stock valued at $6,679,812 over the last 90 days. Insiders own 0.82% of the company’s stock.

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.