WNY Asset Management LLC Lowers Holdings in M&T Bank Co. (NYSE:MTB)

WNY Asset Management LLC decreased its position in M&T Bank Co. (NYSE:MTB) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,529 shares of the financial services provider’s stock after selling 103 shares during the period. WNY Asset Management LLC’s holdings in M&T Bank were worth $664,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MTB. Sanctuary Advisors LLC increased its position in shares of M&T Bank by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,195,000 after acquiring an additional 52 shares during the period. Quadrant Capital Group LLC increased its position in shares of M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 53 shares during the period. Catalina Capital Group LLC increased its position in shares of M&T Bank by 2.0% in the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock valued at $531,000 after acquiring an additional 56 shares during the period. Parallel Advisors LLC increased its position in shares of M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 60 shares during the period. Finally, Forum Financial Management LP increased its position in shares of M&T Bank by 2.2% in the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of M&T Bank in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft raised M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Thursday, April 24th. Truist Financial lowered their price target on shares of M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley decreased their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler decreased their price objective on M&T Bank from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Moderate Buy” and a consensus price target of $212.53.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Performance

Shares of MTB stock opened at $179.64 on Friday. The company has a market capitalization of $28.83 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.38 and a beta of 0.58. The business’s 50 day moving average is $172.12 and its two-hundred day moving average is $188.76. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12-month low of $139.78 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the company posted $3.09 EPS. Analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. M&T Bank’s dividend payout ratio is currently 36.17%.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.