M&T Bank Corporation (NYSE:MTB) Position Reduced by AE Wealth Management LLC

AE Wealth Management LLC cut its position in shares of M&T Bank Corporation (NYSE:MTB) by 11.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,599 shares of the financial services provider’s stock after selling 210 shares during the quarter. AE Wealth Management LLC’s holdings in M&T Bank were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MTB. FMR LLC lifted its stake in M&T Bank by 14.3% during the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider’s stock valued at $2,652,899,000 after buying an additional 1,761,014 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of M&T Bank by 18,471.2% in the first quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider’s stock worth $126,145,000 after purchasing an additional 701,905 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of M&T Bank by 22.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider’s stock worth $294,662,000 after purchasing an additional 286,049 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of M&T Bank in the fourth quarter worth approximately $48,939,000. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of M&T Bank in the fourth quarter worth approximately $43,101,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MTB. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Barclays reduced their price target on shares of M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 15th. Citigroup increased their price target on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company increased their price target on shares of M&T Bank from $175.00 to $185.00 and gave the stock an “underweight” rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has an average rating of “Moderate Buy” and an average target price of $212.88.

M&T Bank Trading Down 1.4%

Shares of MTB stock opened at $191.66 on Thursday. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $190.06 and its two-hundred day moving average is $184.60. The company has a market cap of $30.77 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.96 and a beta of 0.63.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, beating the consensus estimate of $4.04 by $0.24. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the company posted $3.73 earnings per share. Equities analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.82%. M&T Bank’s payout ratio is 34.97%.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the sale, the director owned 4,881 shares in the company, valued at approximately $963,899.88. The trade was a 20.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,438 shares of company stock worth $1,967,346. Insiders own 0.53% of the company’s stock.

About M&T Bank

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.