M&T Bank Corporation $MTB Stock Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY trimmed its holdings in M&T Bank Corporation (NYSE:MTB) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 263,177 shares of the financial services provider’s stock after selling 2,592 shares during the quarter. M&T Bank makes up about 1.5% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 25th biggest position. Miller Howard Investments Inc. NY owned 0.18% of M&T Bank worth $57,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Bancorp Inc ME bought a new position in M&T Bank in the 2nd quarter valued at $25,000. Bogart Wealth LLC increased its stake in M&T Bank by 233.3% in the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 84 shares during the period. NBH Bank purchased a new stake in M&T Bank in the second quarter worth $51,000. FNY Investment Advisers LLC bought a new stake in shares of M&T Bank during the second quarter worth $51,000. Finally, Elevation Wealth Partners LLC lifted 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 purchasing an additional 167 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In other news, Director Rudina Seseri sold 623 shares of the firm’s stock in a transaction on 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 owned 3,649 shares in the company, valued at approximately $879,554.96. This trade represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO René Jones sold 19,396 shares of M&T Bank stock in a transaction dated 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 completion of the sale, the chief executive officer owned 103,831 shares of the company’s stock, valued at $24,851,949.85. The trade was a 15.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 20,028 shares of company stock worth $4,794,884. Insiders own 0.44% of the company’s stock.

M&T Bank Stock Up 0.1%

Shares of NYSE:MTB opened at $221.99 on Tuesday. M&T Bank Corporation has a 52-week low of $179.32 and a 52-week high of $255.95. The stock has a market cap of $32.06 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.28 and a beta of 0.61. The business’s 50 day moving average is $228.90 and its 200 day moving average is $224.77. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.54.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, October 16th. The financial services provider reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the company posted $4.82 EPS. Sell-side analysts predict that M&T Bank Corporation will post 19.48 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were given a dividend of $1.50 per share. 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 dividend payout ratio is presently 31.32%.

Analysts Set New Price Targets

MTB has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their target price on shares of M&T Bank from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Truist Financial reduced their price target on shares of M&T Bank from $250.00 to $235.00 and set a “hold” rating on the stock in a research note on Tuesday, October 20th. Robert W. Baird lifted their price objective on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Raymond James Financial assumed coverage on shares of M&T Bank in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $250.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $247.12.

M&T Bank Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company’s offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.