Means Investment CO. Inc. Trims Stock Position in M&T Bank Co. (NYSE:MTB)

Means Investment CO. Inc. decreased its holdings in M&T Bank Co. (NYSE:MTB) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,122 shares of the financial services provider’s stock after selling 64 shares during the quarter. Means Investment CO. Inc.’s holdings in M&T Bank were worth $734,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MTB. Fidelis Capital Partners LLC purchased a new position in shares of M&T Bank during the 1st quarter worth $30,000. Hexagon Capital Partners LLC grew its holdings in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the period. Oakworth Capital Inc. purchased a new stake in M&T Bank in the second quarter worth about $35,000. nVerses Capital LLC bought a new position in shares of M&T Bank in the third quarter worth about $53,000. Finally, Versant Capital Management Inc lifted its position in shares of M&T Bank by 82.7% during the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after buying an additional 201 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock valued at $5,115,349 in the last ninety days. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Morgan Stanley lifted their target price on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada increased their price target on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday. The Goldman Sachs Group boosted their price objective on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Citigroup upped their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $196.18.

M&T Bank Trading Down 0.7 %

MTB stock opened at $197.55 on Friday. The firm has a market cap of $32.96 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The firm has a fifty day moving average price of $172.93 and a 200 day moving average price of $158.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $200.94.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $5.12 EPS. Sell-side analysts anticipate that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

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.