M&T Bank Corporation $MTB Shares Sold by Forsta AP Fonden

Forsta AP Fonden cut its position in shares of M&T Bank Corporation (NYSE:MTB) by 2.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,000 shares of the financial services provider’s stock after selling 900 shares during the quarter. Forsta AP Fonden’s holdings in M&T Bank were worth $6,014,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in shares of M&T Bank in the 1st quarter worth about $25,000. WPG Advisers LLC bought a new position in M&T Bank in the first quarter worth about $25,000. Golden State Wealth Management LLC grew its holdings in shares of M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in shares of M&T Bank during the 2nd quarter worth approximately $46,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of M&T Bank by 1,109.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.3%

Shares of NYSE MTB opened at $186.98 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70. The company has a market cap of $28.74 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 0.87 and a beta of 0.66. The business has a fifty day simple moving average of $189.85 and a 200-day simple moving average of $189.41.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The company had revenue of $1.54 billion during the quarter. Sell-side analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a yield of 3.2%. M&T Bank’s payout ratio is presently 36.95%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Truist Financial lowered their target price on M&T Bank from $227.00 to $217.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Cantor Fitzgerald began coverage on M&T Bank in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price target for the company. Cowen reaffirmed a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Finally, Piper Sandler assumed coverage on shares of M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.76.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director directly owned 17,866 shares in the company, valued at approximately $3,569,448.14. This trade represents a 45.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Company 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.