Rhino Investment Partners Inc Cuts Position in M&T Bank Corporation $MTB

Rhino Investment Partners Inc trimmed its position in shares of M&T Bank Corporation (NYSE:MTB) by 57.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,478 shares of the financial services provider’s stock after selling 55,433 shares during the period. M&T Bank makes up about 2.6% of Rhino Investment Partners Inc’s holdings, making the stock its 17th largest holding. Rhino Investment Partners Inc’s holdings in M&T Bank were worth $8,197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. raised its holdings in shares of M&T Bank by 7.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,956 shares of the financial services provider’s stock valued at $782,000 after buying an additional 271 shares during the period. Entropy Technologies LP purchased a new position in M&T Bank during the 3rd quarter valued at about $4,571,000. FourThought Financial Partners LLC acquired a new position in M&T Bank in the 3rd quarter valued at about $331,000. Sandhill Capital Partners LLC grew its position in M&T Bank by 4.3% in the 3rd quarter. Sandhill Capital Partners LLC now owns 2,365 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 98 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in M&T Bank by 94.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock valued at $57,879,000 after acquiring an additional 142,593 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTB. UBS Group boosted their price target on shares of M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Wells Fargo & Company lifted their price objective on shares of M&T Bank from $185.00 to $205.00 and gave the company an “underweight” rating in a report on Monday, January 5th. Morgan Stanley upped their target price on shares of M&T Bank from $251.00 to $271.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Jefferies Financial Group increased their target price on shares of M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Cantor Fitzgerald raised their price target on shares of M&T Bank from $238.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $232.87.

Insider Activity

In other news, EVP Michael A. Wisler sold 8,237 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total value of $1,840,804.76. Following the sale, the executive vice president directly owned 4,643 shares in the company, valued at approximately $1,037,617.64. This trade represents a 63.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gary N. Geisel sold 887 shares of M&T Bank stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the sale, the insider directly owned 16,446 shares of the company’s stock, valued at approximately $3,548,882.34. This trade represents a 5.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 49,092 shares of company stock valued at $11,182,250. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Performance

Shares of MTB opened at $196.31 on Friday. The stock has a 50-day simple moving average of $219.08 and a 200-day simple moving average of $202.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $29.25 billion, a PE ratio of 11.51, a PEG ratio of 0.87 and a beta of 0.58. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $239.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period in the previous year, the company posted $3.77 earnings per share. On average, analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, March 2nd. M&T Bank’s payout ratio is 35.19%.

About M&T Bank

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.