M&T Bank Co. (NYSE:MTB) Shares Sold by Financial Management Network Inc.

Financial Management Network Inc. cut its stake in M&T Bank Co. (NYSE:MTB) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,117 shares of the financial services provider’s stock after selling 134 shares during the period. Financial Management Network Inc.’s holdings in M&T Bank were worth $736,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after acquiring an additional 81,004 shares during the period. Dimensional Fund Advisors LP lifted its stake in M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares during the period. Bank of New York Mellon Corp lifted its stake in M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after acquiring an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after acquiring an additional 319,051 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

NYSE MTB traded up $0.80 on Friday, hitting $195.30. The company had a trading volume of 80,885 shares, compared to its average volume of 1,036,650. The company has a market capitalization of $32.59 billion, a PE ratio of 13.15, a PEG ratio of 3.27 and a beta of 0.75. The company’s fifty day moving average price is $174.96 and its 200-day moving average price is $159.94. 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 12-month low of $108.53 and a 12-month high of $200.94.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.76%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Analysts Set New Price Targets

Several analysts have commented on MTB shares. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Bank of America lifted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. DA Davidson lifted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday. Finally, 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 report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $197.47.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 6,095 shares of M&T Bank stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the sale, the insider now owns 47,944 shares of the company’s stock, valued at $7,780,352.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other M&T Bank news, EVP Michael J. Todaro sold 4,791 shares of M&T Bank stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.57, for a total transaction of $778,872.87. Following the sale, the executive vice president now owns 3,086 shares of the company’s stock, valued at $501,691.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 6,095 shares of M&T Bank stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.28, for a total transaction of $989,096.60. Following the sale, the insider now directly owns 47,944 shares in the company, valued at approximately $7,780,352.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,735 shares of company stock valued at $7,437,757 in the last 90 days. 0.82% of the stock is owned by 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.