M&T Bank Corporation $MTB Holdings Lessened by Candriam S.C.A.

Candriam S.C.A. lowered its position in M&T Bank Corporation (NYSE:MTB) by 13.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,896 shares of the financial services provider’s stock after selling 3,079 shares during the quarter. Candriam S.C.A.’s holdings in M&T Bank were worth $4,345,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. First Bancorp Inc ME acquired a new position in shares of M&T Bank in the 2nd quarter valued at $25,000. John Boyer Inc. acquired a new stake in shares of M&T Bank in the 3rd quarter valued at about $29,000. FNY Investment Advisers LLC purchased a new position in M&T Bank during the 2nd quarter worth approximately $51,000. NBH Bank purchased a new position in M&T Bank during the 2nd quarter worth approximately $51,000. Finally, Compass Financial Management LLC grew its stake in M&T Bank by 265.3% during the 3rd quarter. Compass Financial Management LLC now owns 263 shares of the financial services provider’s stock worth $57,000 after buying an additional 191 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

Shares of MTB stock opened at $220.62 on Wednesday. The stock has a market capitalization of $31.86 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.64. M&T Bank Corporation has a 52-week low of $179.75 and a 52-week high of $255.95. The stock’s 50-day moving average price is $223.79 and its 200 day moving average price is $225.33. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Friday, October 16th. The financial services provider reported $5.08 EPS for the quarter, beating the consensus estimate of $4.93 by $0.15. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the business earned $4.82 EPS. As a group, equities research analysts forecast that M&T Bank Corporation will post 19.48 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were issued a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. M&T Bank’s payout ratio is presently 31.32%.

Insider Buying and Selling

In related news, CEO Rene F. Jones sold 19,396 shares of M&T Bank stock in a transaction on Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer directly owned 103,831 shares in the company, valued at $24,851,949.85. This trade represents a 15.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. This represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the topic of several research analyst reports. UBS Group reduced their price objective on M&T Bank from $255.00 to $238.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Weiss Ratings restated a “buy (b)” rating on shares of M&T Bank in a research report on Tuesday, September 1st. Wolfe Research lowered shares of M&T Bank from a “peer perform” rating to an “underperform” rating and set a $198.00 target price on the stock. in a research report on Tuesday, October 27th. Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday, July 16th. Finally, DA Davidson reduced their price target on shares of M&T Bank from $262.00 to $258.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $244.89.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Founded in 1856 as Manufacturers and Traders Bank, the company operates primarily through M&T Bank and its wealth-management subsidiary, Wilmington Trust. M&T provides retail and commercial banking services, including checking and savings accounts, loans, mortgages, credit cards, and cash-management services. Through Wilmington Trust and other businesses, it also offers wealth management, trust, investment, and related financial services.