Carnegie Capital Asset Management LLC Lowers Position in M&T Bank Co. (NYSE:MTB)

Carnegie Capital Asset Management LLC trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,905 shares of the financial services provider’s stock after selling 214 shares during the period. Carnegie Capital Asset Management LLC’s holdings in M&T Bank were worth $398,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new position in shares of M&T Bank during the 4th quarter valued at about $1,371,000. Baystate Wealth Management LLC raised its holdings in shares of M&T Bank by 25.2% during the 4th quarter. Baystate Wealth Management LLC now owns 1,043 shares of the financial services provider’s stock valued at $143,000 after buying an additional 210 shares in the last quarter. Meitav Investment House Ltd. raised its holdings in shares of M&T Bank by 6.7% during the 4th quarter. Meitav Investment House Ltd. now owns 2,409 shares of the financial services provider’s stock valued at $333,000 after buying an additional 152 shares in the last quarter. Sapient Capital LLC purchased a new position in shares of M&T Bank during the 4th quarter valued at about $423,000. Finally, Mutual of America Capital Management LLC raised its holdings in shares of M&T Bank by 14.1% during the 4th quarter. Mutual of America Capital Management LLC now owns 37,374 shares of the financial services provider’s stock valued at $5,123,000 after buying an additional 4,607 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Evercore ISI lifted their price target on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. Finally, StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.98.

M&T Bank Trading Up 1.2 %

NYSE MTB opened at $139.04 on Thursday. The stock’s 50 day moving average is $139.61 and its 200 day moving average is $132.77. The firm has a market capitalization of $23.17 billion, a PE ratio of 9.40, a P/E/G ratio of 1.30 and a beta of 0.80. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.23. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the firm posted $4.09 EPS. Research analysts forecast that M&T Bank Co. will post 13.89 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was 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 in the company, valued at $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the transaction, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was 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 approximately $923,215. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is owned by insiders.

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.