Balentine LLC Sells 1,927 Shares of M&T Bank Co. (NYSE:MTB)

Balentine LLC decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 46.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,202 shares of the financial services provider’s stock after selling 1,927 shares during the period. Balentine LLC’s holdings in M&T Bank were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in M&T Bank during the 4th quarter worth about $25,000. Headinvest LLC purchased a new stake in M&T Bank in the third quarter valued at approximately $29,000. BKM Wealth Management LLC acquired a new position in M&T Bank in the 4th quarter worth approximately $32,000. Creative Financial Designs Inc. ADV purchased a new position in M&T Bank during the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC acquired a new stake in M&T Bank during the 4th quarter valued at approximately $33,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Down 0.2 %

NYSE MTB opened at $153.03 on Thursday. The business has a fifty day moving average price of $144.90 and a 200 day moving average price of $138.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $25.53 billion, a P/E ratio of 10.35, a P/E/G ratio of 3.00 and a beta of 0.78. M&T Bank Co. has a one year low of $108.53 and a one year high of $156.65.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the business posted $4.09 earnings per share. Research analysts anticipate that M&T Bank Co. will post 14.02 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $1.35 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 3.53%. The ex-dividend date is Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MTB shares. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Jefferies Financial Group decreased their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $158.48.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the transaction, the director now owns 35,480 shares in the company, valued at $5,481,660. The disclosure for this sale can be found here. Insiders have sold 132,034 shares of company stock valued at $19,706,471 over the last ninety days. Company insiders own 0.82% of the company’s stock.

M&T Bank Profile

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.