M&T Bank Co. (NYSE:MTB) Shares Sold by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. cut its position in M&T Bank Co. (NYSE:MTB) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,268 shares of the financial services provider’s stock after selling 60 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in M&T Bank were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its stake in shares of M&T Bank by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 15,878 shares of the financial services provider’s stock valued at $2,177,000 after purchasing an additional 439 shares during the period. Quadrature Capital Ltd purchased a new position in M&T Bank in the 4th quarter valued at approximately $788,000. Nomura Holdings Inc. grew its stake in shares of M&T Bank by 98.3% in the fourth quarter. Nomura Holdings Inc. now owns 19,588 shares of the financial services provider’s stock worth $2,685,000 after acquiring an additional 9,708 shares in the last quarter. GAMMA Investing LLC increased its position in shares of M&T Bank by 25.0% during the first quarter. GAMMA Investing LLC now owns 1,534 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 307 shares during the period. Finally, Alaska Permanent Fund Corp raised its stake in shares of M&T Bank by 2.3% in the first quarter. Alaska Permanent Fund Corp now owns 18,763 shares of the financial services provider’s stock valued at $2,729,000 after acquiring an additional 417 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,699 shares of company stock worth $5,115,349. 0.82% of the stock is owned by company insiders.

M&T Bank Stock Up 1.8 %

M&T Bank stock opened at $189.24 on Thursday. The stock’s 50 day moving average price is $171.49 and its 200 day moving average price is $157.99. The company has a market cap of $31.58 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $190.41.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the previous year, the firm earned $5.12 EPS. On average, sell-side analysts predict that M&T Bank Co. will post 14.16 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MTB. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. DA Davidson upped their target price on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Piper Sandler lifted their price target on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada raised their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $185.75.

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.