M&T Bank Corporation $MTB Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC lessened its holdings in M&T Bank Corporation (NYSE:MTB) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,303 shares of the financial services provider’s stock after selling 11,519 shares during the quarter. Sound Income Strategies LLC owned approximately 0.06% of M&T Bank worth $19,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital raised its stake in shares of M&T Bank by 7.5% during the third quarter. Wedmont Private Capital now owns 4,734 shares of the financial services provider’s stock valued at $1,030,000 after acquiring an additional 329 shares during the last quarter. GAMMA Investing LLC lifted its holdings in M&T Bank by 1.9% during the 3rd quarter. GAMMA Investing LLC now owns 6,462 shares of the financial services provider’s stock worth $1,406,000 after buying an additional 119 shares during the period. Farther Finance Advisors LLC grew its position in shares of M&T Bank by 9.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,724 shares of the financial services provider’s stock valued at $1,463,000 after buying an additional 554 shares during the last quarter. Everhart Financial Group Inc. increased its stake in shares of M&T Bank by 5.8% in the third quarter. Everhart Financial Group Inc. now owns 2,470 shares of the financial services provider’s stock valued at $537,000 after buying an additional 135 shares during the period. Finally, Elevation Wealth Partners LLC raised its position in shares of M&T Bank by 153.2% during the third quarter. Elevation Wealth Partners LLC now owns 276 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 167 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Down 0.1%

NYSE:MTB traded down $0.24 during trading hours on Friday, reaching $217.32. The company had a trading volume of 721,066 shares, compared to its average volume of 1,126,247. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The firm has a market cap of $31.38 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.23 and a beta of 0.61. The business’s 50-day simple moving average is $235.29 and its two-hundred day simple moving average is $228.02. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $255.95.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter in the prior year, the business earned $4.28 earnings per share. On average, equities analysts expect that M&T Bank Corporation will post 19.42 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, September 1st. M&T Bank’s dividend payout ratio is 31.68%.

Key Stories Impacting M&T Bank

Here are the key news stories impacting M&T Bank this week:

• Positive Sentiment: Raymond James initiated coverage with an “outperform” rating and a $250 price target, implying substantial upside from the reference price. The call reflects confidence in M&T Bank’s earnings outlook and valuation. M&T Bank Stock Bumped Up to Moderate Buy by Raymond James Financial
• Positive Sentiment: Zacks said M&T Bank has the key factors needed for a potential earnings beat in its forthcoming report, raising expectations ahead of the release. A stronger-than-expected result could support the shares. M&T Bank Corporation Earnings Expected to Grow
• Neutral Sentiment: TD Cowen began coverage with a “hold” rating and a $245 price target. Although the target indicates potential upside, the neutral recommendation suggests the firm wants to see additional evidence from earnings or operating trends before becoming more constructive.
• Neutral Sentiment: M&T Bank is expected to announce quarterly earnings on Friday, making the report the primary near-term catalyst. Investors will focus on revenue, net interest income, credit quality and management’s outlook. M&T Bank Expected to Announce Earnings on Friday

Insider Buying and Selling

In other M&T Bank news, CEO René Jones sold 19,396 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer owned 103,831 shares in the company, valued at approximately $24,851,949.85. This represents a 15.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. This trade represents a 14.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 20,028 shares of company stock worth $4,794,884. 0.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of recent analyst reports. Evercore set a $230.00 target price on shares of M&T Bank in a research report on Thursday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research note on Tuesday, September 1st. Morgan Stanley cut their price target on shares of M&T Bank from $304.00 to $301.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Raymond James Financial assumed coverage on M&T Bank in a research report on Tuesday. They issued an “outperform” rating and a $250.00 price objective for the company. Finally, Royal Bank Of Canada boosted their price objective on M&T Bank from $230.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $250.21.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.