M&T Bank Corporation $MTB Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in M&T Bank Corporation (NYSE:MTB) by 8.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,394 shares of the financial services provider’s stock after selling 2,651 shares during the quarter. Handelsbanken Fonder AB’s holdings in M&T Bank were worth $5,721,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of Jackson Hole Trust boosted its holdings in M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after buying an additional 120 shares during the last quarter. Triumph Capital Management acquired a new stake in M&T Bank in the 3rd quarter worth about $32,000. Elyxium Wealth LLC acquired a new stake in M&T Bank in the 4th quarter worth about $33,000. Ameriflex Group Inc. boosted its holdings in M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in M&T Bank by 61.8% in the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after buying an additional 76 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MTB shares. JPMorgan Chase & Co. lowered their price objective on M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Cantor Fitzgerald lowered their price objective on M&T Bank from $255.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Royal Bank Of Canada restated an “outperform” rating and set a $225.00 price target on shares of M&T Bank in a research report on Thursday. UBS Group set a $235.00 price target on shares of M&T Bank in a research report on Thursday, April 16th. Finally, Argus boosted their price target on shares of M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $235.32.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of M&T Bank stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the transaction, the executive vice president directly owned 6,753 shares of the company’s stock, valued at $1,462,024.50. The trade was a 31.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael A. Wisler sold 8,237 shares of M&T Bank stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the transaction, the executive vice president directly owned 4,643 shares in the company, valued at $1,037,617.64. This trade represents a 63.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.44% of the stock is owned by insiders.

M&T Bank Price Performance

Shares of MTB stock opened at $213.39 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50-day moving average is $210.37 and its two-hundred day moving average is $208.72. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $239.00. The company has a market capitalization of $31.25 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.08 and a beta of 0.59.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $3.32 earnings per share. Analysts predict that M&T Bank Corporation will post 18.69 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. M&T Bank’s payout ratio is 33.59%.

M&T Bank announced that its board has initiated a share repurchase plan on Tuesday, March 31st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.