Dopkins Wealth Management LLC Cuts Holdings in M&T Bank Co. (NYSE:MTB)

Dopkins Wealth Management LLC decreased its stake in shares of M&T Bank Co. (NYSE:MTB) by 55.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,164 shares of the financial services provider’s stock after selling 1,433 shares during the quarter. Dopkins Wealth Management LLC’s holdings in M&T Bank were worth $207,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MTB. Ontario Teachers Pension Plan Board boosted its position in shares of M&T Bank by 43.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after acquiring an additional 3,739 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of M&T Bank during the 3rd quarter worth about $44,000. Price T Rowe Associates Inc. MD boosted its position in shares of M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after acquiring an additional 18,566 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in shares of M&T Bank by 60.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock worth $4,964,000 after acquiring an additional 12,304 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after acquiring an additional 2,797 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total value of $396,000.00. Following the completion of the transaction, the director now directly owns 29,796 shares of the company’s stock, valued at $5,899,608. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,068 shares of company stock valued at $12,612,905. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI upped their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler upped their target price on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Barclays upped their target price on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and upped their target price for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $198.76.

M&T Bank Stock Performance

Shares of MTB stock opened at $211.91 on Thursday. The company has a market cap of $35.16 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.00 and a beta of 0.74. The stock has a 50 day simple moving average of $184.40 and a 200-day simple moving average of $165.93. M&T Bank Co. has a 12-month low of $118.83 and a 12-month high of $216.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, equities analysts forecast that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

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.