M&T Bank Co. (NYSE:MTB) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC cut its stake in shares of M&T Bank Co. (NYSE:MTBFree Report) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,495 shares of the financial services provider’s stock after selling 90 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in M&T Bank were worth $205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MTB. HHM Wealth Advisors LLC acquired a new stake in M&T Bank in the 4th quarter valued at about $25,000. Headinvest LLC acquired a new stake in M&T Bank in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC acquired a new stake in M&T Bank in the 4th quarter valued at about $32,000. Creative Financial Designs Inc. ADV acquired a new stake in M&T Bank in the 4th quarter valued at about $33,000. Finally, CVA Family Office LLC acquired a new stake in M&T Bank in the 4th quarter valued at about $33,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,821 shares of M&T Bank stock in a transaction on Friday, May 10th. The shares were sold at an average price of $153.78, for a total value of $280,033.38. Following the completion of the sale, the executive vice president now owns 8,579 shares in the company, valued at $1,319,278.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher E. Kay sold 1,821 shares of M&T Bank stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the completion of the transaction, the executive vice president now directly owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 132,034 shares of company stock worth $19,706,471. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of research reports. DA Davidson reissued a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Bank of America raised their price target on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $158.48.

Read Our Latest Research Report on MTB

M&T Bank Stock Up 0.2 %

Shares of NYSE:MTB opened at $153.79 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $144.31 and a 200 day simple moving average of $137.16. The firm has a market cap of $25.66 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.27 and a beta of 0.78. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $156.65.

M&T Bank (NYSE:MTBGet Free Report) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter last year, the firm posted $4.09 EPS. On average, equities research analysts anticipate that M&T Bank Co. will post 14.02 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.38%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

M&T Bank Company Profile

(Free Report)

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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